AfriTin Mining : Investor Presentation July 2020 August 13, 2020

Investor Presentation

July 2020

DISCLAIMER

These presentation slides (the "Slides") do not comprise an admission document, listing particulars or a prospectus relating to AfriTin Mining Limited ("the Company") or any subsidiary of the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The Slides and the accompanying verbal presentation are confidential, and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose.

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The Slides contain forward-looking statements, which relate, inter alia, to the Company's proposed strategy, plans and objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements.

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No securities commission or similar authority in Canada has in any way passed on the merits of the securities represented hereunder and any representation to the contrary is an offence. No document in relation to the placing of the Company shares has been, or will be, lodged with, or registered by, The Australian Securities and Investments Commission, and no registration statement has been, or will be, filed with the Japanese Ministry of Finance in relation to the placing or the Company's shares. Accordingly, subject to certain exceptions, the Shares may not, directly or indirectly, be offered or sold within Canada, Australia, Japan, South Africa or the Republic of Ireland or offered or sold to a resident of Canada, Australia, Japan, South Africa or the Republic of Ireland.

The Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any US Person as that term is defined in Regulation S under the US Securities Act. The Company has not been registered and will not register under the United States Investment Company Act of 1940, as amended. The Slides and their contents are confidential and should not unless otherwise agreed in writing by AfriTin Mining Limited be copied, distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person.

2

Company

Overview &

Market

Backdrop

3

ABOUT US: THE AFRICAN TIN CHAMPION

• A tin mining company with a portfolio of production and near production tin assets in Africa
• • Uis Tin Mine - Namibia (production) - Previously the worlds largest open cast tin mine
  • Mokopane Tin Project - South Africa
• Listed on AIM November 2017
• • London's ONLY pure play listed tin company
• Experienced Management team
• • Management carries over 120 years of experience
• From listing on AIM to first production in two years
• Objective to become the tin champion of Africa
• Well placed to benefit from the tin supply shortage

4

LONDON'S ONLY PURE-PLAY TIN LISTING

STRATEGIC PRINCIPLES

STRATEGIC OBJECTIVES 2020

The right commodity

Sound market fundamentals, supporting stable commodity price outlook

Early production

Phased development approach allows for early cash flows, while significantly de-risking Phase 2

TIN OFFTAKE	PHASE 1
AGREEMENT IN PLACE	OPTIMISATION

STUDY COMPLETE

Low cost curve

First quartile cash-cost curve for Phase 2

Scalable

Large mining licence area with over 180 mineralised, outcropping pegmatites

ACHIEVE STEADY		IDENTIFY AND EXPLORE
STATE PRODUCTION		ADDITIONAL TIN
		OPPORTUNITIES

5

ENVIRONMENTAL, SOCIAL AND GOVERNANCE

AfriTin Mining complies with all applicable safety, health & environmental laws in addition to our own company policies and requirements. We strive to use resources sparingly so as to reduce the impacts of our operations on the environment, stakeholders and surrounding communities.

PLANET

Monthly Monitoring

Ensuring compliance to the OEMP through monthly monitoring of:

• Dust fallout
• Surface water quality
• Static borehole water levels
• Onsite SHE field audits Monthly monitoring allows for identification and mitigation of SHE impacts in a timely manner.

Pollution Control & Prevention

• Waste rock is co-disposed with tailings on existing waste rock dumps
• Good housekeeping practices are encouraged
• A hydrocarbon spill management plan has been implemented onsite

PEOPLE

Health & Safety of workers

• OH&S policies and procedures are in place
• Safety is reemphasised daily through safety talks and shares
• H&S risks are assessed, controlled, mitigated and monitored

Social Development

• Sponsoring of local soccer teams
• Co-sponsorshipof a borehole drilled in the Ugab River to provide water to wildlife
• Purchasing of tin mined by artisanal miners operating in the mining licence
• Sponsoring the 2020 Rhino Run and Ride in support of The Rhino Trust of Namibia

Economic contribution in

Namibia

• Close to N$200 000 000 has been spent in the development of the Uis Tin Mine
• Majority of this expenditure has occurred in Namibia

Economic Support

• All permanent staff at the Uis Tin Mine are Namibian citizens
• Employing from within the local community wherever possible
• Supporting the local economy by supporting local accommodation, stores and restaurants
• Businesses have opened in Uis and substantial developments have occurred

INTEGRITY

We seek to gain competitive advantage through sound, ethical and legal practices.

Protection of our People

• Commitment to respecting labour & human rights
• We believe in a diverse & inclusive working environment
• Zero-tolerancepolicy for any form of harassment or bullying

Stakeholder Engagement

• Commitment to transparency & open communication
• Uis Tin Mine has not identified any stakeholder engagement risks
• The community is supportive of the Uis Tin Mine

AfriTin Mining is currently working towards compliancy with the International Finance Corporation's Performance Standards and is aiming to obtain its Conflict Free Certificate. Best practices are implemented wherever possible.

6

TIN MARKET FUNDAMENTALS

Market overview

• Global tin market anticipated to be valued at US$8.23bn in 2023, robust long-term fundamentals
• Market is mature, well established, and highly consolidated
• Tin is predicted to be the metal most positively impacted by the development of future technologies and 'the Internet of Things'
  ¡ Including advanced energy-generation and energy-storage devices

Commodity demand in the electrical contact and

battery materials markets - MIT

Tin
Lithium			AV/EV
Cobalt
		Robotics
Silver
Nickel			Renewables
Gold			Oil & Gas
Tungs…
		Energy Storage
Vana…
Graph…			IT
Niobi…			Other
Zinc
PGM…
Salt

• Tin, tied with copper is the best LME performer in the first half of 2020

Refined tin demand currently outpaces supply (000t) - ITA

Supply Shortage

• Tin market has faced a consistent supply deficit over recent years, forecast to remain in deficit until 2022. Shortages due to:
• • Production cuts from several Chinese smelters
  • Closure of Chinese production plants in Yunnan
  • Reduced exports from Myanmar
  • Environmental and regulatory hurdles in Indonesia
  • Depleting resources and grades from Latin America supply
• Ample opportunities for growth in the market which will serve to exacerbate the existing demand-supply gap

7

TIN MARKET FUNDAMENTALS

• Semiconductor industry one of the biggest consumers of solder

¡	Global demand for semiconductors has a significant effect on the
	tin price due to the development of smart devices.
¡	Demand for semiconductors set to increase with the uptake in the	- ITA
	5G market, necessitating the development of new technology

• International Tin Association reporting demand could triple by 2050
• The ITA anticipates the tin price to recover to pre-COVID levels of ~US$19 000/t

Future Trends

• Increases in tin demand have historically coincided with technological advances
• Refined tin consumption of c.340-370ktpa makes it a relatively small market
• Major tin demand comes from electronic solder, chemical and tin plate use

8

Our Projects

9

MAJOR AFRICAN TIN PROVINCES

AfriTin's portfolio includes an interest in a number of mining and exploration areas across Southern Africa

¡	Mining Licences
	¡	Uis: ML134

• • C1/B1: ML 129
  • Nai-Nais:ML133
• Exploration Licences

Erongo Region,

Namibia

Bushveld Complex,

South Africa

¡ Prospecting Rights

¡ Mokopane Tin

¡ 2205PR

• Brandberg West: EPL5445

Tin Provinces of Africa

¡ 2371PR

¡ Goantagab: EPL5670		AfriTin assets Sn, Li and Ta	10

NAMIBIAN ASSESTS - A REGIONAL FOOTPRINT

Historical mining footprint only a fraction of existing licence areas in a proven tin province. AfriTin aims to expand the company's footprint across the region.

EPL5

670

EPL5

445

ML

ML 134

• Brandberg West: Exploration licence EPL5445 covering 30 089 Ha
• • Historically producing tin-tungsten deposit from the 1940's - 1980's, owned by SWACO, a Goldfields subsidiary
  • Exploration programme planned for 2020
• Goantagab: Exploration licence EPL5670 covering 18 950 Ha

129 ML1

33

SOURCE: GOOGLE EARTH

• Uis: 3 fully permitted mining licences: ML134 (the location of current mining activity), ML129 and ML133, with a combined

coverage of 27 860 Ha	11

UIS - FLAGSHIP ASSET

HISTORIC (CIRCA 1989)

CURRENT

Plant Discard

Thickener

Store

		Primary
	Workshop
				Filter
		Crusher
ROM						Press
Stockpile

Primary

Stockpile

Secondary

Crushing DMS 1

Plant

Grits

Dewatering

DMS 2 &

DMS 3

Concentrate

Store

Spiral Plant

¡	Historically the largest hard-rock tin mine in the world
	¡	Operating in excess of 3 decades
	¡	Historic production rates of ~1 500 tonnes Sn concentrate per
		annum
¡	Large scale, conflict-free deposit located in mine friendly
	Namibia
	¡	Mining licences in place
¡	Tin mineralisation complimented by significant by-product
	potential including
	¡	Lithium
	¡	Tantalum
	¡	Rare earth elements (REE's)
¡	2 phase multi-commodity development plan
	¡	Phase 1: Plant fully operational and undergoing ramp-up

Diesel Storage
Main
Backup
		generators		Reservoir
				Offices

¡ Phase 2: studies in progress

12

PROGRESS AT UIS

§ Achieved a globally significant JORC-compliant mineral resource estimate (MRE) for V1 and V2

§ 95,539t of tin

§ 6,091t of tantalum

§ 450,265t of lithium oxide

§ Construction of processing plant completed

§ Processing plant production of tin concentrate commenced

§ Offtake agreement signed with Thaisarco § 4 successful shipments to date

§ Ramp-up to nameplate capacity in progress § Debottlenecking in progress

§ Robust Phase 1 economics confirm the significance of the pilot mining and processing facility as a full- scale commercial operation

13

GEOLOGICAL MODEL

¡ Multiple mineralised pegmatites mapped	141 drill holes over V1 V2 pegmatites

• Historical IMCOR drill data for V1 and V2 pegmatites has been validated by AfriTin's Phase 1 exploration programme, allowing incorporation into geological modelling
• 141 drill holes along a 25m grid spacing utilised for high resolution modelling
• • Phase 1 weighted averages used for pegmatite intersections
  • V1 and V2 pegmatite intersections occur at depth
  • Drill data shows significant down dip thickening of the ore body compared to surface outcrop
• 3-Dgeological model completed and a JORC compliant resource declared
• • Utilised for block modelling and mine design

14

UIS JORC-COMPLIANT MINERAL RESOURCE ESTIMATE

Globally significant maiden resource

• Drill results validated the historical exploration data generated by ISCOR subsidiary IMCOR, allowing an additional 141 drill holes to be incorporated into the mineral resource estimate
• Ancillary elements analysed during the drilling campaign confirmed Ta and Li by-product potential
• The ancillary elements reported as part of the inferred mineral resource as the minerals were not sampled for in the historical ISCOR data
• The maiden resource is comprised from only one of the 12 existing pits (covering 16 pegmatite bodies) at Uis, namely V1V2
• • Total tonnes of ore reported in the JORC compliant MRE for V1V2 pegmatite body alone is greater than that reported for the historic reserve estimate over 16 historic pegmatite bodies

Historical Non-JORC Complaint Reserve Estimate* for 16

Uis pegmatite bodies

	Proven	Probable	TOTAL
Commodity	Sn		Sn		Sn
Grade	0.136%	0.135%	0.136%
Tonnes of	48 426	800	21 896	900	70 323	800
Ore
Contained	65 860	29 561	95 421
Metal (t)

	MRE of Tin within the V1 and V2 Pegmatites		MRE of Ancillary Elements within
	(Cut-off Grade 0.05% Sn)			the V1 and V2 Pegmatites
	Measured	Indicated		Inferred	TOTAL	Inferred	Inferred
Commodity	Sn	Sn		Sn	Sn	Li2O	Ta
Grade	0.139%	0.136%		0.130%	0.134%	0.63%	85 ppm
Tonnes of Ore	21 540 000	13 050 000		36 950 000	71 540 000	71 540 000	71 540 000
Contained	29 899	17 765		47 875	95 539	450 265**	6 091
Metal (t)

*SRK report declared reserve estimate in 1989	** Metal refers to Li2O	15

EXPLORATION UPSIDE

• Concurrent exploration programmes are targeting higher grade pegmatites with low stripping ratios
• Regional mapping programme completed on surrounding pegmatites
• • Visual confirmation of cassiterite mineralisation for over 180 pegmatites within 5km of processing plant
• Detailed mapping programme identified higher grade greisenised areas within mineralised pegmatites
• Ore bodies are up to 80m thick and over 1km along strike
• 67-meterintersection of the W17 pegmatite, south of mining area, displayed visible cassiterite grains over the entire intersection
• Historical pits mined on outcropping pegmatite, over 12 existing pits, these comprise historical
  SRK reserves (1989)

SOURCE GOOGLE EARTH

16

MINING

• Mining operations over the V1 and V2 pegmatites were established in May 2019
• Conventional open pit mining methods, with a truck and excavator mobile equipment combination utilised
• The combined mine plan delivers 2.75 million tonnes (represents 3% of the historical resource) of pegmatite at an average overburden stripping ratio of 1:1.5 to ensure exposure of ore in the long-term
• Mine design, at 0.5 Mtpa RoM, provides sufficient inventory to supply Phase 1 processing plant with ore for more than 5 years., with the V1 and V2 pegmatite ore bodies supporting mining production rates far beyond the current requirements
• Mine design exploits outcropping pegmatites and excavations of the historical Uis mine
• Potential for fast production ramp-up

Section: V2 Pegmatite		Section: V1 Pegmatite
Topography
900 amsl			Topography
		800 amsl
Phase 1
Phase 4			Phase 5
	Phase 2
850 amsl		750 amsl
V2 Pegmatite		V1 Pegmatite
800 amsl		700 amsl

Hanging Wall

V2 Pegmatite

Person for Scale

17

METALLURGY

• Coarse grained cassiterite crystals allowing for easy liberation through crushing
• Efficient pre-concentration with dense medium separation (DMS) produces 80% waste rejection at high recoveries
• Large material density differentials (cassiterite/columbite > 5.0 g/cm3, gangue 2.7 g/cm3) allowing for efficient dense medium and gravity separation
• Tantalite associated with the tin concentrate
• Preliminary lithium test work indicates potential for lithium by-product. Further test work planned
• Plant design targets:

• Sn recoveries >60% at concentrate grades of 60% Sn
• Ta recoveries >15% at a concentrate grade of 22% Ta
• Li recoveries >28% at a concentrate grade of 4% Li2O

18

PROCESS FLOW DIAGRAM

19

INFRASTRUCTURE

¡ Power supply

¡ Formal (10 year) supply agreement concluded with Namibia Power Corporation:

§ Provides for the full on-site power requirements for Phase 1 mining and processing facility from the national grid

§ AfriTin constructed its own substation to transform the supply to medium voltage (11 kV) and installed a miniature substation to distribute power at 400 V in the processing plant

	§ Significantly more cost effective than diesel generated power
	¡ Supply voltage of 66 kV
	¡ Supply capacity of 1.5MVA
	¡ Diesel generators currently in place to serve as backup power to the grid
¡ Water supply
¡	Geohydrological study, water drilling and test pumping completed
¡	Process water requirements are supplied from well fields and open-pit
	lake areas in the surrounding mining area

¡ AfriTin is fully permitted for water abstraction from boreholes (groundwater not potable but is suitable for use as plant water)

• Regional investigations for additional groundwater resources have

commenced

20

UIS PHASE 1: PROCESSING PLANT EXPANSION

AfriTin plans to increase the production capacity of the Phase 1 processing plant beyond the current Stage I. This will occur in three distinct steps (Stages II-IV).

Stage I

Ore feed: 80tph

Tin feed grade: 0.139% Sn

Tantalum feed grade: 85ppm

Lithium feed grade: N/A

Tin recovery: 60%

Tantalum recovery: 15%

Lithium recovery: N/A

Tin conc. grade: 60% Sn

Tantalum conc. grade: 22% Ta2O5

Lithium conc. grade: N/A

• Pilot plant construction completed
• Ramp-upto steady state in progress

Stage II

Ore feed: 120tph

Tin feed grade: 0.139% Sn

Tantalum feed grade: 85ppm

Lithium feed grade: N/A

Tin recovery: 70%

Tantalum recovery: 30%

Lithium recovery: N/A

Tin conc. grade: 60% Sn

Tantalum conc. grade: 22% Ta2O5

Lithium conc. grade: N/A

• Increase throughput capacity
• Increase tin recovery
• Increase tantalum recovery

	Stage III	Stage IV
	Ore feed: 120tph	Ore feed: 120tph
	Tin feed grade: 0.139% Sn
	Tin feed grade: 0.158% Sn
	Tantalum feed grade: 85ppm	Tantalum feed grade: 85ppm
							Lithium feed grade: 0.63% Li2O
	Lithium feed grade: 0.63% Li2	O
	Tin recovery: 70%	Tin recovery: 70%
	Tantalum recovery: 30%	Tantalum recovery: 30%
				Lithium recovery: 28%
	Lithium recovery: 28%
	Tin conc. grade: 60% Sn	Tin conc. grade: 60% Sn
	Tantalum conc. grade: 22% Ta2O5	Tantalum conc. grade: 22% Ta2O5
	Lithium conc. grade: 4% Li2O		Lithium conc. grade: 4% Li2O
• Addition of petalite by-product	• Expansion of tin and tantalum
• Initial lithium test work complete	concentrate production

21

PHASE 1 ECONOMICS

• Stage I of Phase 1 provides a solid platform at a robust operating profit margin
• • Long-termprofit margin of 25%
  • • Provides robust free cash flows over LOM
• Additional development stages have the potential to substantially increase the commercial value of the Phase 1 operation
• • Overall NPV over US$ 120.0 mil
  • Overall IRR increase of 60%
• High-levelCAPEX estimates required for implementation of Stages II-IV:
• • Stage II - US$ 11.0 mil
  • Stage III - US$ 10.0 mil
  • Stage IV - US$ 7.5 mil
• Stages II-IV will be financed by organic growth cash flows and long-term facilities where necessary

Relative increase in NPV on a cumulative basis for each stage of the Phase 1

expansion

	Millions	140				IRR:	Overall
	120			IRR:	33%	IRR: 60%
			65%	13
		100
(US$'m)		80		IRR:	43
	60		60%			123
NPV
			39
		40
		20	28
		0	Stage I	Stage II	Stage III	Stage IV	Total

Updated Phase 1 economics summary with the economic potential of Stages II-IV

Parameter	Units	Stage I	Stage II	Stage III	Stage IV
FCF (cumulative)	USD/annum	1,530,000	6,690,000	12,110,000	14,940,000
NPV (cumulative)	USD	27,590,000	66,850,000	109,960,000	122,940,000
IRR (cumulative)	%			60%
C1 Cash Cost	USD/t tin metal	13,900	9,000	-6,300	-5,300
LOM (measured	Years	39	26	26	26
resources only)
Payback Period	Years	N/A	1.9	1.9	2.1
(after tax)

22

UIS PHASE 2: LONG TERM DEVELOPMENT PLAN

Phase 2 Objectives

§ Leverage the production profile of Phase 1 in order to expand the operations of the business

§ Large-scale operation producing at least 5000 tonnes of tin concentration, representing ~1% of the global tin supply

§ Identify further mineralised pegmatites within project and regional area

§ Growth of portfolio through acquisition in country and elsewhere in Africa

§ Revenues in excess of $100million in 5 years

23

EXPOSURE TO A MAJOR TIN ASSET OF GLOBAL SIGNIFICANCE

• Clear development timeline with catalysts for value creation:
• • Fully permitted operation
  • Production commenced August 2019
  • V1 V2 resource JORC-compliant
  • Robust Phase 1 economics
  • Commencement of Phase 2 expansion
• Junior mining company that delivers
• • Strong geological potential from a historically producing mine
  • Multi-commodityoptionality
  • A stable mining investment jurisdiction
  • Strong medium-term demand for tin underpinned by growing applications in new technologies

24

Appendices

25

TEAM

Professional team with over 120 years of combined mining experience.

Glen Parsons

Chairman

• CEO of Mariana Resources from 2010 until its sale to Sandstorm for $175m in July 2017
• 20+ years' experience both as a mining executive and in investment banking

Frans van Daalen

COO

• Qualified mining engineer with 20 years' operational and technical experience
• Co-founderand director of VBKom

Anthony Viljoen

CEO

• Mining entrepreneur - over 2 decades operating in Africa
• Founding director and former CEO of Australian listed Lemur Resources
• Successfully founded and directed Bushveld Minerals (AIM: BMN).
• Non-executivedirector at Bushveld Minerals

Terence Goodlace

Non-executive Director

• 40+ years' experience in mining; currently NED at Gold Fields and Kumba Iron Ore Limited
• Previously Gold Fields COO, Metorex Limited CEO, Impala Platinum CEO

Machiel Odendaal

Lead Engineer

• Qualified electrical engineer with 40+ years' experience and Chief Engineer at various mining operations in Southern Africa

Timothy Marais

Exploration Manager

• Qualified exploration geologist with over 8 years' experience
• Worked on multiple commodity projects across Africa - focus on project development, management and near-term value realisation

Laurence Robb

Non-executive Director

• Professor of Economic Geology and Director of the Economic Geology Research Institute, University of the Witwatersrand's School of Geosciences
• Technical Director of Lerama Resources

Roger Williams

Non-executive Director

• Over 20 years' international experience in mining finance, currently NED of Sylvania Platinum and Digby Wells and Associates
• Previously CFO Randgold Resources and CFO of AECI

Jan Rabe

Lead Process Engineer

• Qualified metallurgical engineer with 17 years' experience, Jan has fulfilled various technical management roles

Rob Sewell

CFO

• Chartered Accountant CA(SA) with 14 years commercial and financial experience across various industries
• Completed training at Deloitte in Johannesburg and gained international

experience during a secondment to Deloitte Sydney office

26

SHAREHOLDER INFORMATION

Top 10 Shareholders as at 28 Feb 2020

INSTITUTION	HOLDING	% STAKE
Naminco Limited	91 931 731	14,1%
The Orange Trust	64 874 704	9,9%
Bushveld Minerals Limited	51 995 342	8,0%
Hargreaves Lansdown	49 190 022	7,5%
Acacia Resources Limited	41 192 121	6,3%
Capital International IOM	27 018 861	4,1%
Premier Miton Group PLC	22 967 231	3,5%
Mr Stephen Pycroft	22 193 851	3,4%
Interactive Investors	20 419 027	3,1%
Halifax Share Dealing	18 241 184	2,8%
Total top 10	410 024 074	62,788%
Management	23 382 476	3,58%
Others	219 739 823	33,64%
Total	653 146 373	100%

AfriTin Mining Share Price Performance

	4
(GBp)	3.5
3
Price	2.5	Ticker	ATM
Share
2	Market	AIM
		Shares in issue	653 146 3731
	1.5
	1

Date

Analyst Research

House	Target Price	Revenue (USD$)	Phase 1 NPV (USD$)
(Phase 1- Steady state)
	14.4p	38.2m	68m
	11.4p	33.3m	92.7m
	11.1p	31.2m	57m
Average	12.3p	34.2m	72.6m

TANTALUM MARKET FUNDAMENTALS

Forecast year-end tantalum pentoxide nominal prices, 2019-

2028 (US$/kg Ta2O5) - Roskill

• Tantalum industry is relatively small, comprised of a limited number of producers
• Tantalum market driven by use in capacitors, tantalum chemicals, alloy additives, sputtering targets, mill products and cemented carbides
• Roskill forecasts global demand will by grow by 4 - 5% pa between 2018 and 2028
• • Increasing from ~2 300 tonnes to ~3 500 tonnes Ta
• Strong demand growth rate predicted:
• • Increases in major applications of capacitors
  • Strong growth in the alloy additives industry
  • Maintained growth in all other sectors

Forecast global consumption of tantalum by application, 2018-2028 (tonnes Ta) - Roskill

28

PETALITE MARKET FUNDAMENTALS

Projection of worldwide lithium demand for ceramics from 2019 to 2030 in LCE (lithium carbonate equivalent) - M.

Garside

• Low-ironpetalite utilised in the technical-grade lithium market
• • Manufacturing of glass, ceramics, frits, glaze and fibreglass
  • Limited test work to date indicates that Uis petalite falls within commercial specification ranges
• Petalite demand driven by growth in the glass and ceramics industries
• • Lithium demand in the glass and ceramics industries
    forecast to increase to ~1.36 Mt of 4% Li2O petalite concentrate by 2030 (~135 000 LCE (lithium carbonate equivalent))
• Current suppliers not anticipating a large increase in supply
• • Opportunity for new petalite suppliers who meet the required specifications to enter the market

29

COMPANY STRUCTURE

30

UIS - ASSET HISTORY

		IMCOR acquires the asset and		Imcor enlarges the plant to c.
Discovery of		installs a c. 35tph tin recovery
	plant to produce cassiterite		140tph producing c. 100-120 tpm
the asset.		concentrate.		cassiterite.
						1989
1911	1948/51	1958	1966	1980

Asset is acquired by Mr Angus Munro; Uis Tin Mining Co (SWA) is established and large-scalemining commences.

	Greenhills (Bushveld
Uis Tin Mine closes	subsidiary) purchases
85% stake from AfriTin
following the tin price
Mining Namibia1.
collapse in the mid-1980s.

IMCOR enlarges the plant to	SRK publishes a 'LoM Plan
c. 100tph and commenced
building the village of Uis.	Report for 1989-2063'*.These
	were historical estimates that were
	not reported to any recognised
	minerals industry reporting code.

19902016

1 Was renamed to AfriTin Mining Namibia in January 2019 (between 2014 and 2016 the entity was called Dawnmin Africa Investments)

2017 AfriTin lists on AIM with Uis as its flagship asset

A new dawn for Uis

31

NAMIBIA: A STABLE INVESTMENT JURISDICTION

• Complimentary mining and exploration jurisdiction with a developed transport infrastructure
• Stable democracy with an independent, strong legal system
• Country encourages foreign investment
• Long established Mining Act - mining law in Namibia is mainly regulated by the Minerals Act 33 of 1992 which was amended in 2008
• Mining is the biggest contributor to Namibia's economy in terms of revenue and consequently, an important industry
• Fraser Institute lists Namibia No. 60 globally in terms of investment attractiveness and No. 36 globally in policy perception. *Corruption Perception Index 2018
• 5th most transparent country in Africa
• Access to the mine is via a regional network of roads which are well maintained by the Namibian government
• The newly upgraded port of Walvis Bay serves as the point of export for the company's mining products

	Walvis Bay Port upgrade		Road between Uis
	completed		and Walvis Bay

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OTHER ASSESTS: SOUTH AFRICA

• Mokopane Tin Project - located on the northern limb of the Bushveld Complex
• • Prospecting right 2205PR covering six farms (13 253 Ha)
  • Prospecting right 2371PR covering three additional neighbouring farms (awaited)
• Four targets identified, exploration conducted on two targets to date, with 18 447 tonnes contained Sn resource established
• Scoping Study completed October 2014
• • Base case RoM of 691ktpa to produce ~700tpa of 99.5% Sn purity metal, yields positive economics with a significant IRR of 34.6%
  • Low quartile operating costs: $14,276/tonne
    of tin metal produced (as of 24 September 2014)
• Potential additional 5,000 tonnes contained
  Sn resource in the underground lease target area
• Greenhills interest = 74%, 26% held by local Black Economic Empowerment partners

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COMPANY INFORMATION

Anthony Viljoen, CEO [e-mail]

Registered office 18 - 20 Le Pollet

St Peter Port Guernsey

Representative office

2nd Floor, Building 3

Illovo Edge Office Park

Corner Harries & Fricker Road

Illovo

Johannesburg, 2116

South Africa

Corporate Advisor and Joint Broker

2 Park Street

London

W1K2HX

United Kingdom

Investor Relations - UK

1 Cornhill London

EC3V 3ND

United Kingdom

[phone]

Broker

8 Frederick's Place

London

EC2R 8AB

United Kingdom

55 Baker street

Marylebone

London

W1U 7EU

United Kingdom

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