GBM Resources : Company Update Presentation

onlyuse ASX:GBZ

Investor Update and Plans for 2022

GBM: delivering world class gold resources

personalPresentation - 10 February 2022

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Important notices

onlyThis Document is not a Prospectus nor an Offer to Subscribe for Shares and Options (the "New Securities") in any jurisdiction. The distribution of this Document in jurisdictions outside of Australia may be restricted by law. Any person who comes into possession of this Document in jurisdictions outside Australia should observe any such restrictions. Nothing in this Document is to be construed as authorising the distribution, or the offer or sale of the New Securities in any jurisdiction other than Australia, and GBM does not accept any liability in this regard. Failure to comply with these restrictions may constitute a vi lation of applicable securities laws. In particular, the New Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended ("US Securities Act"), or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws. See the section of this presentation titled "Foreign selling restrictions" for more information.

GBM and its Directors, employees and consultants make no representations or warranty as to the accuracy, reliability or completeness of this document, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

useThis document contains reference to certain targets and plans of GBM which may or may not be achieved. The performance of GBM may be influenced by a number of factors, uncertainties and contingencies, many of which are outside the control of GBM and its directors, staff and consultants.

The information in this report that relates to Exploration Targets, Exploration Results and Mineral Resources is based on information compiled by Peter Mullens, who is a Fellow of The Australasian Institute of Mining and Metallurgy. Peter Mullens is an employee of the company and is a holder of shares and options in the company. Mr Mullens has sufficient experience which is 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'. Mr Mullens consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

The Company confirms that the form and context in which the Competent Person's findings are presented have not materially changed from the original market announcement.

personalThis presentation may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property

titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company's current projects in Australia are at an early stage and all estimates and projections are based on limited, and possibly incomplete data. More work is required before geological and economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic.

It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and Ore Reserves ("JORC Code"). Investors outside Australia should note that while ore reserve and mineral resource estimates of GBM in this Document comply with the JORC Code (such JORC C de-compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not c mply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Industry Guide 7, which g verns disclosures of mineral reserves in registration statements filed with the US Securities and Exchange Commission (the "SEC"). Information contained in this Document describing mineral deposits may n t be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. In particular, Industry Guide 7 does not recognise cla sifications other than proven and probable reserves and, as a result, the SEC generally does not permit mining companies to disclose their mineral resources in SEC filings. You should not assume that

quantities reported as "resources" will be converted to reserves under the JORC Code or any other reporting regime or that GBM will be able to legally and economically extract them.

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GBM's strategy

Assemble, explore and develop world class, high grade gold resources

Key focus: On Prospective Drummond Basin Gold Flagship

Approximately 4,540 km2 Claims Package

1.6 Moz Gold JORC Resources

Aiming to define 2-3 Moz Gold Resource in Drummond Basin, QLD, Australia Planned inground resource and exploration spend A$ 7.5 M over 12 months Regional exploration around potential processing hub on existing ML's

Highly Prospective for new discoveries - "Bonanza Vein / Breccia / Yandan potentially bulk mineable"

Targeting Company Making Discoveries Safe mining jurisdiction and low sovereign risk

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Cashflow: White Dam, Gold-copper Heap Leach

• Generating approx. A$230 K per month  100% GBM
• Following drilling in 2021, updated JORC resource pending
• Exploring value realisation options following several approaches

Partner Funded Projects  >A$3 M next 12 months

• Cloncurry JV, Copper-gold  Nippon Mining Australia, A$17 M to date
• Malmsbury JV, Gold  Novo Resources, ~$2.0 M this CY
• Mt Morgan, Gold-copper  Spin out to TSXv co. finalising 43-101 and definitive agreement - shareholders approved deal at AGM

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only	GBM has delivered
In 2020 and 2021 progress:
 Significant increase in gold resources with consolidation, see chart1
 Joint ventured "Fosterville style gold" Malmsbury project in Victoria
use	Advancing high potential copper/gold ground in NW QLD province

 Significant growth in GBM's market value since November 2019
 Non-Core asset disposals continued:
personalr	- recent Milo Brightlands sale ~$2.5 million (cash and shares )
- Mt Morgan vend out, 43-101 document nearing completion
	- White Dam value adding continuing and asset options being
	reviewed
	- Mayfield tenement sale progressing
 1 for 10 Loyalty Option announced - additional funding for 2022
	1 Refer Appendix - Mineral Resource Estimates	4

only	2022 Plans
1.	Drummond Basin, QLD, Australia (Prioritise Resource Expansion, Category Upgrades and New Discoveries)
	Exploration Priorities
use	 Commence >20,000 m drilling program (Twin Hills, Yandan, Illamahta, Mt Coolon)
 Advance geological models for targets at Yandan and Glen Eva/Eastern Siliceous Zone
 Finalise regional geological database of all prospects to allow ranking and prioritisation for further drilling
	 Explore options to accelerate drilling/exploration plans on the extensive tenement package
	Development Studies
personalr	 Mineral Resource Estimate updates (commence Yandan MRE update, further MRE on Twin Hills as drilling progresses)
 Open Pit and UG mining production modelling/options for Twin Hills
2.	White Dam Gold-Copper Heap Leach, SA, Australia
	 Maximise cashflow/value add and review commercial options
3.	Partner Funded Projects, VIC & QLD, Australia (>A$3 M next 12 months)
4.	Finalise remaining non-core asset disposals
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