Re-introducing Astro Resources · For personal use only Re-introducing Astro Resources. ... • N143-101 report. “a paleotectonic and stratigraphic setting that is highly conducive

www.aro.com.au +61 2 8046 2799

Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000GPO Box 2733, Sydney NSW 2001, Australia

Re-introducing Astro Resources

Sydney

6 February 2018

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| 2Investor Presentation January 2018

Disclaimer and Forward Looking Statement

The purpose of this presentation is to provide background information to assist readers in obtaining a general understanding

of Astro Resources NL (Astro) and its objectives. It is not and should not be considered as an offer or invitation to apply for or

purchase securities of the Company or as a recommendation or inducement to make an offer or invitation in respect of the

Company’s securities. This presentation is not a disclosure document under Australian law or under any other law. It does not

purport to contain all the information any reader or prospective investor may require to make an investment decision and it

does not contain all of the information required by Australian law or any other law to be disclosed in a prospectus.

No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness, reliability or adequacy

of statements, estimates, opinions or other information, or the reasonableness of any assumption or statement in this

presentation (any of which may change without notice), or the likelihood of achievement or reasonableness of forecasts or

prospective statements in this presentation. Forecasts and prospective statements are by their nature subject to significant

uncertainties and contingencies. Forecasts and prospective statements in this presentation are based on current

expectations about future events and are subject to risks, uncertainties and assumptions that could cause actual results to

differ materially from the expectations described.

Readers should make their own independent assessment of the information and take their own independent professional

advice in relation to the information and any proposed action to be taken in on the basis of the information. To the

maximum extent permitted by law, Astro and its professional advisors and their related bodies corporate, affiliates and each

of their respective directors, officers, partners, employees, advisers and agents and any other person involved in the

preparation of this presentation disclaim all liability and responsibility (including without limitation any liability arising from

fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use of or reliance on

anything contained in, or omitted from, this presentation. Neither Astro nor its advisors have any responsibility or obligation

to inform the reader of any matter arsing or coming to their notice after the date of this presentation, which may affect any

matter referred to in the presentation.

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Astro is poised to advance a select portfolio of diverse, high quality assets.

• We have honed our portfolio to diverse, high quality assets in proven areas of Nevada and Western Australia.

• We have the management and partners in place to advance those assets.

• We are applying capital to a responsible plan with milestones expected through 2018 and 2019.

Re-introducing Astro Resources

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A diverse portfolio of high-quality assets

Astro has retained or acquired three well-defined licences in diverse, proven resource-producing areas. The resulting portfolio reduces both exploration and commodity risk.

ANO 2 Project "Reset"

Governor Broome mineral sands (WA)Two assets in a rich WA corridor, one a JV with Iluka.

Kimberley diamonds (WA)Large-scale earthworks required on promising channels that run towards the Argyle diamond mine

Needles epithermal gold (Nevada)Highly promising initial sampling in historically notable area.

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Removing the deadwood

The portfolio has been substantially de-risked, with Astro’s technical team reviewing all assets over the past 30 months, acting on those which are promising.

Mineral Sands

E70/2464 E70/2655

E70/2708 E70/3681

E70/3682 E70/4119

E04/1405 P70/1585

P70/1586 P70/1587

Diamonds

E04/1405 P80/1615

E80/4120 P80/1616

E80/3315 P80/1617

Gold

E52/2480 E52/2481

E52/2482

Other

EL23403 EL24182

E80/3243 E80/4316

Held January 2018

Governor

Broome, WA

R70/53

Needles, NV

Lower Smoke

Creek, WA

E80/4120

Jack Track, WA

E70/2464

Active and

promising

Held June 2015Held June 2011

Mineral Sands

E70/2372 E70/2464

E70/2655 E70/2708

E70/3681 E70/3682

E70/4119

P70/1585 P70/1586

P70/1587 P70/1639

P70/1584 P70/1640

Diamonds

E80/4120

Other

E80/4316

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Needles (Nevada) overview

ANO 2 Project "R

Needles has shown highly promising initial sampling in a proven gold-silver producing area.

• Location. Nye County, 330 km E of Las Vegas. An

area of rich epithermal gold-silver deposits proven

since 1900, with Round Mountain Mine producing

Au 20m oz and Ag 311,000kg.

• Asset. 113 unpatented mineral lode mining claims

over 2,335 acres.

• Highlights. Rock chip sampling has identified high

priority target zones.

• Progress. Pushing ahead with reconnaissance and

detailed follow up as soon as Nevada winter ends.

Acquisition

• 4 Oct 17: purchase

ResultsReconnaissance

• Nov 17: Rock chip

sampling

Target areas

• Apr 18: Drill target

identification.

Drilling

• June/July 2018

Carlin-type Au

Epithermal Au/Ag

Porphyry Cu

Deposits

Round

Mountain

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Nevada (Needles) acquisition


Astro exploration consultants Centric Minerals Management has identified strong prospects for target mineralisation of epithermal gold (± silver and base metals)

Acquisition

• 4 Oct 17: purchase

• Source. Asset identified by Centric Minerals

Management Pty Ltd

• Geology. Near eastern margin of a 15km wide

eroded volcano/caldera complex, part of extensive

continental magmatism, formed between ~32 and

~19 million years ago

• Main deposit type. Structurally controlled, silver-

antimony-gold-bearing epithermal quartz veins.

Silver and arsenic-bearing sulphides characterize

areas of high-grade gold-silver mineralisation.

• History. Small-scale historical mining and

exploration.

• N143-101 report. “a paleotectonic and

stratigraphic setting that is highly conducive to the

development of epithermal Au-Ag” … “clearly

analogous to that of Round Mountain Mine”

Needles Property boundary

Anomalous gold in geochemistry (4 areas)

New priority target area

Caldera rim

1 km

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Nevada (Needles) reconnaissance


Two sets of sampling by Centric Minerals has identified several areas of mineralisation.

Reconnaissance

• Nov 17: Rock chip

sampling

• Work: Rock chip sampling by

Centric Minerals in 2015 and

again in 2017

• Result: Sufficient to invest in a pole-dipole

resistivity geo-physical survey to determine

anomalous areas of potential mineralisation

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Governor Broome overview


Astro has two assets in the rich mineral sands corridor of WA’s southwest corner. The western licence contains a JORC resource 100% owned by Astro; Astro owns 20% of the eastern licence in a JV with Iluka

• Location. SE West Australia, 70km south of Busselton,

South River Coastal Plain.

• Assets. R70/53 (100% owned) plus 20% of Inferred

Resources in adjacent E70/2464.

• Highlights.

• R70/53 Indicated Resource 30Mt @ 4.9% HM

• R70/53 Inferred Resource 125Mt @ 4.4% HM

• Potential access to Iluka’s nearby processing plants

• Progress. Consultants engaged to confirm economic

potential on “Warren Sands” mineralisation (near

surface sand resource), reporting in March 2018.

Acquisition• 2011:

E70/2372 secured.

ResultsReconnaissance• 2012: Initial drilling

and sampling

completed.

Target areas• 2015: JORC Code

complaint resources

reported and

R70/53 granted.

Scoping study• Nov 17. Mining and

Economic analysis of

WS mineralisation

due Mar18.

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Governor Broome details


A JORC resource has been long established. A scoping study to confirm economic and mining is due in March 2018, focusing on the Indicated low-slime Warren Sands mineralisation.

Target areas

• 2015. JORC Code

Compliant resource

estimated and R70/53

granted.

Scoping study

• Nov 17.

Economic and

mining analysis

due in March 18.

• Consultants engaged to

remodel its resource

data and undertake a

preliminary mine

schedule and scoping

study to confirm mining

and economic potential.

• Focus is on Warren

Sands mineralisation,

which has a low slimes

content of 4.9%; as such

may be more easily

processed.

JORC Report Number WA15/01

prepared by J.J.G. Doepel BSc

(Hons), Principal Geologist,

Continental Resource Management Pty Ltd

Mt%

HM%

Slimes%

Oversize

Indicated 30 4.9 12 8.1

Inferred 170 4.0 14 7.4

Total 200 4.2 14 7.5

Resource summary at min 2% HM lower block-cut

Cross section at 6,209,640mN

Refer to ASX market announcement dated 12 February 2015, for details of the resource, including those assumptions made by the

Competent Person. Astro is not aware of any changes since the date of the above announcement.

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Jack Track overview


JORC resource identified, for which Iluka has applied for a retention licence.

• Location. SE West Australia, 70km south of Busselton, South River Coastal Plain.

• Asset. E70/2464 “Jack Track” section (20% owned, Iluka 80%).

• Highlights.

• Inferred Resource of 18.8Mt @ 4.7% HM with 890,000t HM at 3.0% HM cut-off grade.

• Target area identified

• Progress. Iluka applying for a retention licence.

Acquisition

• 2011: Acquired

• Dec 14: JV with

Iluka to establish

maiden resource.

Reconnaissance

• Jan 15 to Mar 16

continued

evaluation.

• Dec 17: Iluka

applies for

retention licence

Target areas

• Apr 16: JORC Code

compliant

resource

estimated.

Jack Track

resource

Refer to ASX market announcement dated 26 April 2016, for details of the maiden resource, including those assumptions

made by the Competent Person. Astro is not aware of any changes since the date of the above announcement.

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Lower Smoke Creek overview


Asset exceeding expectations, with large-scale earthworks required. Future sampling is planned on two promising palaeo-channels that run towards the Argyle diamond mine.

• Location. East Kimberley, WA, adjoining the Argyle and Bow River Diamond Mines.

• Assets. E80/4120 Lower Smoke Creek, together with Heavy Mineral Separation (HMS) plant on site.

• Highlights. 10m palaeo-channel of 5 million m3 gravel in a relatively deep bedrock sump represents a compelling target for future exploration

• Progress. Asset exceeding expectations, with bulk sampling due to commence in 2019 using company’s HMS plant.

Acquisition• 2009 by ARO

ResultsReconnaissance• 1986-2005.

Successive

explorations confirm

diamondiferous

gravels.

Bulk sampling• 2018: Enviro

approvals and

funding steps.

• 2019: Sampling

outside wet season.

Target areas• Oct 16: GPR survey

identifies palaeo-

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Lower Smoke Creek details


In the main target area, a gravel accumulation infilling a relatively deep bedrock sump, represents a compelling target for future exploration.

Reconnaissance• 1986-2005.

Successive

explorations confirm

diamondiferous

gravels.

• Exploration

included limited

bulk sampling,

airborne

magnetics,

geochemical soil

sampling, and

drilling

Target areas

• Oct 16. GPR

survey identifies

palaeo- channels.

‒ extensions of known

diamond areas running

southwest towards the

Argyle mine

‒ main target: 10m thick

channel, 5 million m3

gravel in a relatively

deep bedrock sump,

represents a compelling

target for future

exploration

‒ second target: 5m thick

channel, diverted

northwest probably in

response to a bedrock

barrier.

• Work: 57-line km ground penetrating radar (GPR) survey together

with 3D modelling of main alluvial trap sites

• Result: Two likely palaeostream channels are targets for alluvial

diamond deposits:

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Experience

• 35 years’ mining experience in Africa, North

America and Australia in production, project

evaluation, feasibility studies and contract

negotiations.

• 18 years’ technical director experience with several

ASX listed companies, leading exploration programs,

JV negotiations and capital raisings.

Track record

• Operational mine management background with Rio

Tinto and Anglo-American.

• Joint JV General Manager bringing the 120,00oz pa

Nolans Gold mine into operation.

• MD Range Resources Ltd negotiated a US$50M JV

with the Lundin Group.

Technical expertise

Corporate Experience

• Principals in the US and Australia have mining

exploration experience in Americas, Asia and

Australia.

• US-based principal geologist has over 35 years’

experience in epithermal gold-silver project

assessment.

Track record

• Centric Minerals Management is currently managing

four other drill-ready gold projects in Nevada and

Arizona.

• US principal has been involved in the discovery of

gold and silver deposits in the western US that have

lead to both new mines and mine expansions.

• Principals in the US and Australia have deep

experience in managing gold-silver projects from

prospect identification through resource delineation

and feasibility.

Michael Povey, Executive DirectorC.Eng. M.Sc B.Sc (Hons) ACSM M.Aus I.M.M

Centric Minerals Management, Consultants

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Management expertise

Experience

• Director of Gun Capital Corporate, a strategic

investor and advisory services company.

• Representative of the major shareholder, Mining

Investments Ltd, a strategic investor in junior

exploration companies.

• Successful value creation with Medibio Limited

(MEB) and Cape Lambert (CFE) among other

companies.

• Former director of Medibio Limited and Esperance

Minerals Limited.

Experience

• 35 years’ experience in corporate finance,

international M&A, accounting and other advisory

related services in Sydney-based mid-tier

accounting firms.

• As Executive Director of East Coast Minerals (ECM,

now part of European Lithium Limited) responsible

for capitalisation and progression of the lithium

project to JORC resource.

• Public company experience includes Executive

Director, Company Secretary and CFO of Greenvale

Energy Limited (ASX: GRV), ED and Interim CFO of

Ashley Services Group Limited (ASX:ASH), Chair of

Medibio Limited (ASX: MEB) and NED of Esperance

Minerals Limited (ASX: ESM).

Jacob Khouri

Non-executive Chairman

Vince Fayad

Executive Director, CFO, Company Secretary

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Development record and plan

Astro will be active on its three primary properties through 2018, with the first scoping results being from Governor Broome in early 2018.

Acquisition

2011

Results

March 18.

Reconn

2016

Targets

2016

Scoping

Nov 17

Governor Broome, WA

2018Q1

2018Q2

2018Q3

2018Q4

2019

Acquisition

2014

Reconn

2016

Targets

2017

Jack Track, WA Further action by Iluka

Acquisition

2009

Reconnaissance

Previous

Targets

2017

Bulk sampling.

2018 Plans and approvals 2019 Sampling.

Lower Smoke Creek, WA

Acquisition

4 Oct 17

Results

2018-19

Reconnaissance

Nov 17: Rock chip sampling

Target areas

Apr 18:Drill target

identification

Drilling

June/July

2018

Needles, Nevada

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Past application of funds

Astro has explored several tenements over 2.5 years at a cost of approximately $2.5m, and is now advancing its selected high quality assets.

FUNDS RAISED FY 2016 FY 2017 HFY Dec 2018*

Advances received from associated parties 514 - 790

Proceeds from rights issue - 3,090 -

Loans repaid/capitalised - (1,985) -

(Decrease)/Increase in cash at bank (120) (14) 64

Total 394 1,091 854

*unaudited

** Abnormal costs include transaction costs for the aborted technology transaction, convertible debt facilities

and prior years stamp duty on the initial 80% acquisition of the Governor Broome Sands tenement.

FUNDS APPLIED FY 2016 FY 2017 HFY Dec 2018*

Operating Expenditure 472 434 217

Abnormal expenditure** 258 166 5

Acquisition of Needles tenement - - 399

Exploration Costs 166 148 145

Interest Expense 64 - 22

Brokerage costs capitalised (30) (162)

(Decrease)/Increase in trade and other creditors (417) 524 55

(Decrease)/Increase in prepayments and other current assets (9) (22) 27

(Decrease)/Increase in Goods and Services Tax (GST) (15) 16 (10)

Depreciation of property, plant and equipment (14) (13) (6)

(Decrease) in other asset (81) - -

Total 394 1,091 854

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Funding for the next phase

To advance its selected properties, Astro currently has $271,000 in available funds (after continued support from its largest shareholder), excluding any options to be exercised.

Substantial shareholders Share of fully paid capital

Mining Investments Limited 34.0%

SEK Investments Pty Ltd 9.97%

Carkaho Holdings Pty Limited 5.25%

Shares issued at 31 Dec 2017

Fully paid ordinary shares (price $0.004 at 25 January 2018)

Opening share capital 34,902,097

Conversion of convertible note debt 75,463,818

Issue from rights issue 772,561,405

Total ordinary shares on issue 882,927,320

Shares over which options granted

(exercise price $0.004, expiry 8 March 2018) 772,561,405

Partly paid ordinary shares issued Nil

Fully diluted number of shares on issue 1,655,488,725

Available funds $’000

Cash on hand 71

Mining Investments Ltd – Loan Facility 200

Initial facility 1000

Drawdown as at 31/12/2017 (770)

Interest and borrowing costs (30)

Currently available funds 271

Potential funds from options if fully exercised 3,088

Potentially available funds 3,359

Mining Investments loan terms

Terms of the loan from Mining Investments are:

• interest rate 12% p.a;

• unsecured loan

• repayable 13 October 2018, with early repayment by Astro without

penalty, and extendable by either party for a further 13 months.

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ContactVince Fayad, Company Secretary, [email protected] or [email protected]

ASX AnnouncementsSee aro.com.au or ASX listing

18 Jan 2018 Quarterly activities and cashflow report

18 Dec 2017 Update on Needles Exploration Project

17 Oct 2017 Quarterly activities and cashflow report

10 Oct 2017 Completion of Needles acquisition and board changes

13 Sep 2017 2017 Annual Report

04 Sep 2017 Market update

26 Apr 2016 Jack Track Maiden Inferred Heavy Mineral Resource

12 Feb 2015 Update on Governor Broome Resource

Further information

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The information in this report that relates to the Needles Property is based on information compiled by Charles Straw, a Director of CentricMinerals Management. Mr Straw who is a member of the Australian Institute of Mining and Metallurgy has sufficient experience which is relevantto the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a CompetentPerson under the 2012 Edition of the ‘Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Strawconsents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

The information in this presentation as it relates to Mineral Resources and Exploration Targets for the Governor Broome Deposit (excluding thatof the lluka JV is based on information compiled by John Doepel (Director of Continental Resource Management Pty Ltd (CRM), who is a memberof the Australasian Institute of Mining and Metallurgy). Mr Doepel has sufficient experience in mineral resource estimation, which is relevant tothe style of mineralisation and type of deposit under consideration and are qualified as a Competent Person as defined in the 2004 edition of the“Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Doepel consents to the inclusion in the report of the information inthe form and context in which it appears.

The information in this report as it relates to Iluka JV is based on information compiled by Shaun Seah under the review of Brett Gibson who is amember of The Australasian Institute of Geoscientists and a full time employee of Iluka. Brett Gibson has sufficient experience which is relevantto this style of mineralisation to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code and consents to the inclusion inthe report of the matters based on information in the form and context in which it appears.

The information in this report as it relates to Mineral Resources for the East Kimberley diamond deposits is based on information compiled byMichael Povey C.Eng who is a member of the Australasian Institute of Mining and Metallurgy). Mr Povey has sufficient experience in mineralresource estimation, which is relevant to the style of mineralisation and type of deposit under consideration and are qualified as a CompetentPerson as defined in the 2004 edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Povey consents to theinclusion in the report of the information in the form and context in which it appears.

Compliance Statement

The Company confirms:

• it is not aware of any new information or data that materially affects the information included in the relevant market announcement; and

• in the case of estimates of Mineral Resources or Ore Reserves, the company confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Competent PersonsF

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Documents

Re-introducing Astro Resources · For personal use only Re-introducing Astro Resources. ... • N143-101 report. “a paleotectonic and stratigraphic setting that is highly conducive