OAKDALE RESOURCES LIMITED

ASX:OAR FRA:F1S
ACN 009 118 861

Strategic Gold Exploration & Production

Projects in the Americas
September 2019
* Picture of Round Mountain , South Central
Nevada- Kinross Gold Corporation -
1 ASX: OAR
Oakdale Snapshot - Combined Gold Production with Exploration Upside

Nevada, US Peru
Three projects:
• Development of the Chimu
• Tonopah North gold processing plant to
• Douglas Canyon upgrade to 120/200 tpd
• Lambarson Canyon • Surrounded by small scale
Targeting +2.0 million oz Au miners.
• Exploration leader has over • Proximity to Burpar project
20 years in-country which could provide high
experience including grade ore (Oakdale has option
leadership of the team that to acquire)
discovered the 2.3 million • Team has 10 years+ in Peru
ounce Long Canyon gold gold activities
deposit now in production

2 ASX: OAR
Oakdale Board

Chris Gale David Vilensky John Lynch

Chairman Non–Executive Director Non–Executive Director
• Extensive experience in board, executive and • A practising corporate lawyer and an • An Australian Geologist with over 50 years’
senior management roles in both the public and experienced listed company director with over experience in exploration and development of
private sectors specialising in technology and 35 years’ experience mineral deposit, both in Australia and overseas.
mining
• Managing Director of Perth law firm Bowen • Successfully developed mining projects through
• Founder and Executive Director of Latin Buchbinder, specialising in corporate and to production with a proven track record as a
Resources(ASX:LRS) having operated in South commercial law, corporate advisory, mergers “commercial” geologist
America for over 10 years and acquisitions, mining and resources and
• Previously been executive General manager,
complex dispute resolution.
• Past Chairman of the Council on Australian Latin Director and Managing Director of public
American Relations established by the • Acts for several public companies and advises on companies, including Oakdale Resources, Weda
Australian Government Department of Foreign directors’ duties, due diligence, capital raisings, Bay Minerals, Werrie Gold, and Pan Australian
Affairs and Trade compliance with ASX Listing rules, and corporate Mining.
governance.
• Founding Director of Allegra Capital, a boutique • A Fellow of The Australasian Institute of Mining
corporate advisory firm based in Perth • Chairman of ASX listed resources company Latin & Metallurgy, and a Foundation Fellow of The
Resources Ltd (ASX:LRS) and a non-executive Australian Institute of Company Directors.
• A member of the Australian Institute of
director of ASX listed telecommunications and
Company Directors • A Competent Person for the classification of
technology company Vonex Ltd (ASX:VN8).
JORC compliant projects.

3 ASX: OAR
Management

Andy Knowles Geoff Balfe Derek Fischer

General Manager - Peru Exploration manager – Alpine Non–Executive Director – Alpine
• 35 years’ experience the Mining & Construction • Geologist +40 years’ experience including +20 • Geologist with +40 years’ experience in mining
industries as a business & corporate executive years in North America; early experience with companies, spanning both corporate and
Amax in North America. operational roles, with a particular emphasis on
• 9 years experience working in the Gold Industry
iron ore and nickel projects.
in Peru, having established the “beach head” • Headed up gold exploration for ACM and then
operations for another Australian Public MPI-Pittston in Nevada. • Played key roles in listing and managing
Company resources companies on both the ASX and TSX
• Led the team that discovered the 700,000 oz
as well as identifying, evaluating, developing
• Previously refurbished and recommissioned an Ovaćik gold deposit in Turkey and then the 2.3M
and operating quality mine developments.
older style CIP plant in Southern Peru, and is oz Long Canyon deposit in Nevada.
supervising the design and construction of the • Co-founder and Director of successful African
• Leveraging off extensive IP and data base of
new facility copper miner Anvil Mining from 1995-2000 and
geochemistry and geology in Nevada to
co- founder and CEO/Managing Director of Moly
• Holds a MBA from the University of Western generate new gold targets.
Mines Limited from 2003 until 2012.
Australia, and a BSc from Melbourne University

4 ASX: OAR
Gold Exploration Projects
Nevada

5 ASX: OAR
Nevada Prospective Gold Area – Rated 3rd best mining district in the world *

• 74% of US gold mined in this Getchell Trend

jurisdiction# LONG CANYON
(1.3m oz Au) • Turquoise Ridge: 9.1M oz
• 5.6M oz gold produced in 2018# • Twin Creek: 11.3M oz
• Nevada is the 6th largest producing LAMBARSON
CANYON
gold ‘nation’ in the world Carlin Trend
• Combined total of 65M
• High quality infrastructure and
skilled workforce ozs (prod’n, reserves &
resources)
• Big gold deposits also discovered in DOUGLAS • Long Canyon 1.3M oz
areas outside the established CANYON Reserve
trends TONOPAH
NORTH
• Exploration leader (Geoff Balfe) led Cortez Trend
the team that discovered the 1.3 • Pipeline: 23M oz
million ounce Long Canyon gold Walker Lane Trend
deposit (Reserve) • Cortez Hills: 3.2M oz
• Tonopah Mine: 1.8M oz Au • Groundrush: 6.9M oz
# source:
https://en.wikipedia.org/wiki/List_of_active_gold_mines_in_Nevada 180M oz Ag
* Frasers institute 2018 • Hasbrouck: 762,00 oz Au
6 ASX: OAR
Nevada – Exploration Strategy

LAMBARSON
CANYON:
Three projects: a potential high-grade
Tonopah North, Douglas Canyon & Lambarson Canyon Projects Carlin Type system with
similar Geological setting
to the 4.0 M ounce Lone
Tree deposit

Targeting +2.0 million oz epithermal and Carlin type gold deposits in Nevada
CARSON
CITY

Leveraging substantial database of 19,000 geochemical samples and geological data

maintaining a flow of exploration targets for follow-up

DOUGLAS CANYON:
an intermediate sulphidation
Strong multi-ounce Au +/-Ag sample results with multiple drill targets identified epithermal
Au – Ag system LAS VEGAS

TONOPAH NORTH:
a low-sulphidation
Exploration leader has over 20 years in-country experience including leadership of the team
epithermal gold system:
that discovered the 2.3 million ounce Long Canyon gold deposit now in production

7 ASX: OAR
Southern Nevada, Historic and Prospective

• Historic gold-silver
Province

• 53M ozs historic Gold

production
DOUGLAS
CANYON • Includes both high
sulphidation Cu-Au and
TONOPAH low sulphidation
NORTH
epithermal gold-silver
deposits

• Importance of major
structures in controlling
gold deposits including NW
shear zones and NNE
transfer faults

8 ASX: OAR
Location of Tonopah North and Douglas Canyon Prospective Zones

Northumberland
• Douglas Canyon is in the Camp 3M oz Au

Douglas area is a bonanza

epithermal gold-silver mining
district in the Walker Lane of Paradise Peak
Round Mountain
southern Nevada. Mina Gold 15M oz Au
https://www.kinross.com
Santa Fe Gold Mesa /operations/default.aspx#
americas-roundmountain
Hole CD03-02 13.72m @
• Tonopah North is in the Tonopah 2.88 g/t Au from 13.7m
(Gold Resource Corp
area an epithermal gold-silver Calvada NYSE:GORO)
mining district
Douglas Canyon
East Camp Douglas
• Several gold deposits have been Camp
Hole 47R 22.86m @ 13.55
Midway
0.27M oz
g/t Au from 4.6m (Gold
established in the last decade and Marietta Douglas Resource Corp NYSE:GORO)
ground is currently tightly held. Tonopah North
Tonopah
1.8m oz Au,
180M oz Ag
Hasbrouck
0.76M oz Au

9 ASX: OAR
Tonopah North

TONOPAH
MOLYBDENUM
High grade and low-sulphidation Midway
epithermal style gold mineralisation; Au:Ag
ratio at Alpine’s Tonopah North is 12:1

Tonopah North

Gold deposits in the Tonopah district

are spatially related to the silver deposit A major regional scale fault transects the
which also produced 1.8M ozs of Au. Tonopah district. All major ore deposits
Au:Ag ratio for the silver mine is 100:1. Hasbrouck
are west of this fault and occur on NW
0.76M oz Au
and E-W faults.

10

10 ASX: OAR
 Tonopah North – Drill Targets

Refer to ASX Release Dated:

East Vein Structure
27/06/19 “Oakdale Signs
Tonopah
Option to North
acquire Alpine Gold
Total 1.2km strike
length
Projects in Nevada” for more
information and JORC Table 1.
High-grade gold is
associated with dilation
of east vein

Targeting a major gold

shoot where east and
west structures
intersect at ~ 200m
depth

Bulk tonnage
target where
Planned Drill Holes
multiple
structures
converge

11 ASX: OAR
Douglas Canyon

• The Douglas Canyon project is in the Camp Douglas area which is an epithermal gold-
silver mining district in the Walker Lane of southern Nevada.

• Recent follow-up by Alpine led to multiple old workings and very strong Au and Ag
rock chip values were obtained from old prospect pits and mine dumps which lead to
a decision to stake the property. Paradise Peak

• The mineralisation is controlled by regional scale NW trending shear zones with east- S
west shear-link structures hosting gold mineralisation. Santa Fe Mina Gold
15.24m @ 3.34 g/t Au
from surface
• Recent activity in proximity includes: (Gold Resource Corp
Calvada NYSE:GORO)

• Gold Resource Corporation (NYSE:GORO) is acquiring the Mina Gold Project north
Douglas Canyon
of Douglas Canyon and has some encouraging drill hits including 15.24m @ 3.34
g/t Au from surface. Drill hits from the East Camp Douglas property include East Camp Douglas
Hole 47R 22.86m @ 13.55
22.86m at 13.5 g/t Au from 4.6m; reference: g/t Au from 4.6m (Gold
Marietta Camp
http://www.goldresourcecorp.com/NV-exploration.php Douglas
Resource Corp NYSE:GORO)
surface

• Newrange Gold (TSXV:NRG) is advancing the Pamlico property

• Columbus Gold (TSX:CGT) is advancing the Eastside property at Monte Cristo.

12 ASX: OAR
Douglas Canyon – Drill Targets

Refer to ASX Release Dated:

27/06/19 “Oakdale Signs Option to
acquire Alpine Gold Projects in
Nevada” for more information and
JORC Table 1.

• Results of dump sampling

in g/t Au

• All drill holes shown are

planned and subject to
capital raising

13 ASX: OAR
 Lambarson Canyon – Gold outcrop sampling results

• The property is located

100km south of
Winnemucca in the East
Range, Pershing County.
• A large granite intrusion
and smaller Tertiary
intrusions are hosted by
Permian Havallah Group
rocks.
• The uplifted stratigraphy
around the intrusions is Lambarson
considered prospective Canyon
for gold mineralisation
and Alpine has collected
gold samples .
Refer to ASX Release Dated: 27/06/19
“Oakdale Signs Option to acquire Alpine
Gold Projects in Nevada” for more
information and JORC Table 1.

14 ASX: OAR
Alpine Resources ;Option Terms

The terms and conditions of the Binding Option Term Sheet (“Term Sheet”) to acquire all of the
shares in Alpine Resources (USA) Pty Ltd (“Alpine”) is summarized as follows:

• Should Oakdale decides to acquire the Option it will then pay to Alpine the sum of $US200,000 which will be used by Alpine to fund
the drill permitting ,concession fees and geophysical exploration program. This has been agreed.
• Prior to the end of the initial exploration program Oakdale must give notice to Alpine of its intention to undertake the next stage of
the exploration program involving a minimum of 800 metres of diamond drilling ( $US 500,000) to be managed by Alpine .
• At any time during the Option Period Oakdale can give notice to Alpine of its intention to exercise the Option to acquire the Alpine
Shares whereupon the Alpine Shares must be transferred to Oakdale by the Alpine shareholders for no further payment.

Following the transfer of the Alpine Shares to Oakdale, Alpine shareholders shall be entitled to be
issued shares in Oakdale subject to the achievement of certain milestones as follows:

• 30 million Oakdale shares when the Option is exercised and formal agreement signed.
• A further 25 million Oakdale on the announcement of the first 500 thousand ounces of gold or gold equivalent JORC compliant
resource.
• A further 25 million Oakdale shares on the announcement of a further 500 thousand ounces of gold or gold equivalent JORC
compliant resource (for a total of 1 million ounces) of JORC compliant resource.

15 ASX: OAR
Chimu Gold Processing Operation

16 ASX: OAR
Chimu Processing Plant, Peru

• Chimu processing plant is

660km by highway from Lima,
40km from coastal town of
AYACUCHO
LIMA
CUZCO
Chala
ABANCAY • Chala and Ayacucho areas
surrounded by thousands of
ICA
small scale mining producers

CHALA
CHIMU • Close proximity to port for
export
LIMA
• In close proximity to Burpar
Project which could provide
CHIMU high grade ore (Oakdale has
option to acquire)

17 ASX: OAR
Peru Gold Processing Framework

Peru is the first country in South America to have formalised small

scale mining resulting in a boom of small scale mining activity

All mines MUST process Gold Ore through a recognised, permitted

Gold Processing Plant facility, such as Oakdale’s Chimu Plant

Oakdale has one of the few recognised, permitted Gold Processing

facilities creates a window of opportunity

Oakdale has a working team with proven gold processing

experience in Peru

18 ASX: OAR
Production Process

Miners bring ore to Chimu mine gate.

Chimu pay miners for ore on a standardised formula

The ore is processed through the Chimu Carbon In Pulp

(CIP) processing plant

The loaded gold carbon is then transferred to the Metalor

refinery in Lima to produce Dore

The Dore is then flown to Metalor refinery in Switzerland

to produce bullion

19 ASX: OAR
 Burpar Project Background and Location

• There are 2 concessions, collectively

known as the Burpar Project , and includes
the Hanai Gold Mine. Permits have been
granted for mineral extraction and
exploration for over 1,500 hectares

• The proposed operational asset is the

Hanai Gold Mine which is a system of high
grade Gold veins, which have been mined Chimu Plant
underground, and are located in the Nasca
- Ocoña belt as part of the coastal batholith
in Southern Peru

• This project is currently under option to

carry out Due Diligence prior to acquiring
the mine

• If acquired this mine could provide high

grade ore to the Chimu Gold plant

20 ASX: OAR
Formula for Setting Gold Ore Purchase Price
The final price paid for any given ore is calculated according to a formula that is used by all Peruvian Plants that purchase Ore in the marketplace. It is well
understood and totally accepted by all miners who sell their ore to Toll Processors – the price paid is a function of grade, recovery, gold price, a gold price
volatility discount & a processing fee

FORMULA PARAMETERS CHIMU ANTICIPATED UNIT COST ANTICIPATED COSTS USING BURPAR SUPPLIES

Grade : Ounces per short tonne(16.5 grams per tonne) 0.53 0.53

Recovery: Plant specific. Typically advertised at 80% - 88% 84% 92%

Gold Price: London close previous day $1250

Volatility Discount: Industry agreed, Typically $120 - $150 per ounce $135 -

Maquila or Processing Fee. Typically $120 - $160 per tonne $140 -

Anticipated Purchase Price from Miners (per tonne) $356 $145 (mine cost)

Anticipated Purchase Price (per ounce) $671.80 $273.30

Less anticipated Silver credits (per ounce, gold equivalent) -$56 - $56

Plus variable production costs $225 $225

Plus fixed costs $40 $40

Anticipated Total Unit Cost of Ore per Ounce $880.80 $482.30

21 ASX: OAR
Toll Processing Estimated Values

Annual ROM tonnage Annual tolling throughput (oz)

• Assumes 0.53 oz average
68,400 33,400 per tonne
• Assumes recovery of 92%
• 28.5 days per month
41,000 20,000 processing time
• Average production cost of
US$880 per oz - $450
utilizing own mine ore
13,680 6,600
• Long term target is 90k-
100k oz of annual
production with 3 plants
40 tpd 120 tpd 200 tpd 40 tpd 120 tpd 200 tpd
within 5 years

22 ASX: OAR
Peers in Peru

Other listed Mineral Processing companies in Peru:

Company Ticker Market Cap Description

Dynacor Gold DNG – TSX AUD$72m Operates a 350 tpd processing plant in
Mines Chala and commenced a $12 million
construction plan of a second 350 TPD gold
plant, located in Southern Peru
Inca One Gold TSX-V: IO AUD$10m A Canadian-based mineral resource
Corp Frankfurt: SU9.F company and mineral processing company
with two gold milling facilities in Peru,
servicing government-permitted small-
scale miners
Vi Mining NEX:VIM AUD$83.5m Recently acquired the Rosario and
Minaspampa Gold mines in La Libertad,
Northern Peru, with the view to restarting
mining operations and unlocking
shareholder value

23 ASX: OAR
Strategic Rationale – Strong Cashflow

Existing plant and operation for near term positive

cashflow

Low capex to improve volume and efficiency initially to

40 tpd then 120tpd to 200tpd

Proximity to thousands of small scale miners requiring

processing capability

Oakdale plans to have three 200tpd plants strategically

placed throughout Peru within 5 years

24 ASX: OAR
Projects Timeline

Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020

Alpine
Funding for exploration
Geophysics program
1st Stage Drilling
2nd stage drilling and JORC resource

Peru
Funding for upgrades
40 tpd upgrade (6,600 oz output capacity)
120 tpd upgrade (20,000 oz output capacity)
200 tpd upgrade (33,400 oz output capacity)

25 ASX: OAR
Peer Comparative Analysis –Nevada

Nevada based Gold Companies Market Cap Resource (AU)

NV Gold $10m Exploration

(TSX: NVX)
Gold Resource Corp $225m 576,000 Au -Nevada
(NYSE:GORO) In Production

West Kirkland $30m 700,000 Au

(TSX:WKM )
Paramount Gold $29m Exploration
(TSX:PZG)
Oakdale Resources $4.4m ( Post raise) Exploration
(ASX:OAR )

26 ASX: OAR
Capital Structure

Shareholding
Current Shareholding post- Shareholding
post-Alpine
Shareholdings placement post-earn-out
Transaction

Existing Shareholders 208,022,030 267,641,843 447,497,843 208,022,030

59,619,813 179,856,000
Participants in Placement 239,475,813
(SPP ) ($0.0834)

Alpine Vendors 30,000,000 30,000,000

Total 267,641,843 447,497,843 477,497,843 477,497,843

Market Capitalisation @ 1c $4.4m

Cash $2.67m $2.0m $4.77m $4,774,000
Enterprise value $2.4m

27 ASX: OAR
Oakdale - Highlights

Short term production, cashflow and

profitability from the Peru project to
fund Nevada exploration

Management has the operating and

M&A experience to create a premier
investment in a very short timespan

Highly attractive NPVs, Internal Rates

of Return & capital paybacks with
Peru Gold plant

Major exploration upside with

potential Nevada gold projects

28 ASX: OAR
Contact

This presentation and any oral presentation accompanying it, has been prepared by Oakdale Resources Ltd (“Oakdale”, “OAR” or “the Company”). It
should not be considered as an offer or invitation to subscribe for, or purchase, any securities in the Company or as an inducement to make an offer
or invitation, with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this
presentation.
This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future
performance, and involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those
expressed or implied. The company has not audited or investigated the accuracy or completeness of the information, statements and opinions
contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, the company makes no representation and can
give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity,
accuracy, suitability or completeness of it, or any errors in or omission from, any information, statement or opinion contained in this presentation.

You should not act, or refrain from acting, in reliance on this presentation material. This overview of the company does not purport to be all
inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You
should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the
information, statements and opinions contained in this presentation before making any investment decision.

29 ASX: OAR
Contact

OAKDALE RESOURCES LIMITED

ASX:OAR
ACN 009 118 861

Thank You & Questions

Chris Gale Geoff Balfe

cgale@allegracapital.com.au gbalfe@iinet.net.au

30 ASX: OAR
Disclaimer
This presentation and any oral presentation accompanying it, has been prepared by Oakdale Resources Ltd (“Oakdale”, “OAR” or “the Company”). It
should not be considered as an offer or invitation to subscribe for, or purchase, any securities in the Company or as an inducement to make an offer
or invitation, with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this
presentation.

This presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future
performance, and involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those
expressed or implied. The company has not audited or investigated the accuracy or completeness of the information, statements and opinions
contained in this presentation. Accordingly, to the maximum extent permitted by applicable laws, the company makes no representation and can
give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity,
accuracy, suitability or completeness of it, or any errors in or omission from, any information, statement or opinion contained in this presentation.
You should not act, or refrain from acting, in reliance on this presentation material. This overview of the company does not purport to be all
inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. You
should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the
information, statements and opinions contained in this presentation before making any investment decision.

Competent Person’s Statement

The information in this Announcement for Oakdale Resources Limited was compiled by Mr. Geoff Balfe, a Competent Person, who is a member
of the Australasian Institute of Mining and Metallurgy. Geoff Balfe is a director and a shareholder of Alpine Resources (USA) Pty Ltd. Geoff
Balfe has sufficient experience, which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity to
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.’ Geoff Balfe consents to the inclusion in the report of the matters based on his information in the
form and context in which it appears.

31 ASX: OAR
References to Historic and Current Resources and Reserves
Mine/Deposit Tonnes Grade (g/t Au) Total Ounces Au Reference
Turquoise Ridge 21,855,000 12.97 9,110,000 https://miningdataonline.com/property/601
/Turquoise-Ridge-Mine.aspx#Overview

Twin Creeks 75,191,000 2.71 11,329,000 https://miningdataonline.com/propert

y/2984/Twin-Creeks-Operation.aspx

Goldstrike 9,074,000 0.16 (oz/ton) 1,456,000 https://barrick.q4cdn.com/788666289/files/

technical-reports/goldstrike-04252017.pdf

Goldstrike Historic - - 42,000,000 https://en.wikipedia.org/wiki/Goldst

rike_mine

Carlin Trend Historic - - 65,000,000 https://ausimm.com/product/gold-

deposits-of-the-goldstrike-mine-carlin-
(including Goldstrike) trend-nevada/

Long Canyon (reserve) 18,400,000 2.29 1,300,000 https://www.mining-

technology.com/projects/long-canyon-
gold-mine-nevada/

Pipeline Deposits - - 23,000,000 https://en.wikipedia.org/wiki/Cor

tez_Gold_Mine
(combined prod’n)
Cortez Hills (M + I) 56,730,000 1.75 3,170,000 https://barrick.q4cdn.com/788666289/files/
doc_downloads/2019/07/Barrick-Gold-
Corporation-Technical-Report-on-the-
Cortez-Mine-March-22-2019.pdf

Groundrush 47,000,000 4.56 6,900,000 https://mrdata.usgs.gov/sedau/sho

w-sedau.php?rec_id=103

Comstock Mine - - 8,256,000 ozs Au https://www.geologyforinvestors.

com/great-deposits-comstock-
(historic) 192,000,000 ozs Ag lode/

32 ASX: OAR
References to Historic and Current Resources and Reserves

Mine/Deposit Tonnes Grade (g/t Au) Total Ounces Au Reference

Hasbrouck Project 45,270,000 0.48 762,000 http://wkmining.com/projects/hasbrouck_de
velopment/

Competent Person’s Statement

The information in this Announcement for Oakdale Resources Limited was compiled by Mr. Geoff Balfe, a Competent Person, who is a member
of the Australasian Institute of Mining and Metallurgy. Geoff Balfe is a director and a shareholder of Alpine Resources (USA) Pty Ltd. Geoff
Balfe has sufficient experience, which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity to
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.’ Geoff Balfe consents to the inclusion in the report of the matters based on his information in the
form and context in which it appears.

33 ASX: OAR