Marvel Gold : Corporate Presentation

Corporate Presentation

May 2022

ASX: MVL

DISCLAIMER

This presentation (Presentation) has been prepared by Marvel Gold Limited (Marvel). No party other than Marvel has authorised or caused the issue of this document, or takes responsibility for, or makes any statements, representations or undertakings in this Presentation. This Presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this Presentation nor anything contained in it shall form the basis of any contract or commitment.

This Presentation contains summary information about Marvel and its activities, which is current as at the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in Marvel that would be required in a prospectus or product disclosure statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth). This Presentation should be read in conjunction with Marvel's other disclosures and announcements lodged with the ASX, which are available at www.asx.com.au.

This Presentation is not a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investment Commission) or any other law.

This presentation includes certain "forward‐looking statements". Forward‐looking statements and forward‐looking information are frequently characterised by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "will" or "could" occur. All statements other than statements of historical fact included in this presentation are forward‐looking statements or constitute forward‐looking information. Although the Company believes the expectations expressed in such statements and information are based on reasonable assumptions, there can be no assurance that such information or statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such information. Important factors that could cause actual results to differ materially from those in forward‐looking statements include the market price of gold, exploitation and exploration successes, capital and operating costs, changes in project parameters as plans continue to be evaluated, continued availability of capital and financing and general economic, market or business conditions, as well as those factors disclosed in the Company's filed documents. Accordingly, readers should not place undue reliance on "forward looking information". There can be no assurance that the resources at the Tabakorole Gold Project can be economically exploited.

This Presentation has been prepared in good faith, but no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, reliability or adequacy of any statements, estimates, opinions or other information, or to the reasonableness of any assumption or other statement, contained in the Presentation (any of which may change without notice). To the maximum extent permitted by law, Marvel and its professional advisers 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 the 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.

Tabakorole

In relation any underpinning

Exploration

The

MARVEL GOLD • ASX:MVL 2

LARGE MINERAL RESOURCE WITH DEVELOPMENT POTENTIAL

BUILDING A PIPELINE OF REGIONAL OPPORTUNITIES

Large mineral resource	Excellent metallurgy		Expected low strip ratio
+1Moz with incremental growth	Average recoveries of 97%		Mineralisation from surface, consistent
opportunities1		indicate simple processing route2		thicknesses

	Extensive landholdings	Expansive drill program	Valuable graphite investment
Strategic +800km2 landholding in prospective	Systematic exploration continuing -	31% shareholding in Evolution
Energy Minerals (ASX: EV1) valued
	structural setting	results pending
	at $21M3

1.	ASX announcement 5 October 2021.	MARVEL GOLD • ASX:MVL 3
2.	ASX announcement 27 January 2021.

3. Based on the ASX closing price on 20 May 2022.

MARVEL CORPORATE OVERVIEW

SIGNIFICANT LISTED INVESTMENT, LOW GOLD ENTERPRISE VALUE

MVL CAPITAL STRUCTURE

Issued Capital	704M1
Options	59M
Share Price	$0.041
Market Capitalisation	$29M
Cash	$4.5M
EV1 investment (at $0.422)	$21M
Enterprise Value	$3.5M

MAJOR SHAREHOLDERS

Capital DI Ltd	13.7%
Delphi Group	13.7%
BPM Capital	4.3%
Board & Management	2.6%

Chris van Wijk Managing Director

Mr. van Wijk is an experienced geologist who specialises in project evaluation and project generation. He has undertaken project evaluation for major mining companies including BHP, IAMGOLD, First Quantum Minerals and Fortescue Metals Group.

Phil Hoskins Non-Executive Director

Mr. Hoskins is a senior executive with broad finance and commercial experience across resources exploration, project development and production as well as large‐scale property developments.

Stephen Dennis Non-Executive Chairman

Mr. Dennis has been actively involved in the mining industry for over 30 years. He has held senior management positions at MIM Holdings Ltd, Minara Resources Ltd and Brambles Australia Ltd.

Andrew Pardey Non-Executive Director

Mr. Pardey has over 30 years in the mining industry with experience in exploration, project development, construction and operations. Between February 2015 and December 2019, he was Chief Executive Officer of Centamin Plc which holds the Tier 1 Sukari Gold Mine. Currently Managing Director of Predictive Discovery Limited (ASX: PDI).

	$0.10	25
Shareprice	$0.08	20	Volume(m)
$0.06	15
	$0.04	10
	$0.02	5
	$0.00	0
	21-May-2121-Jun-2121-Jul-21	21-Aug-2121-Sep-2121-Oct-2121-Nov-2121-Dec-2121-Jan-2221-Feb-2221-Mar-2221-Apr-22

1. As per ASX announcement on 27 August 2020, up to 20M shares are expected to be issued to Oklo Resources upon successful renewal of certain tenements. 8M shares

have already been issued.

MARVEL GOLD • ASX:MVL 4

2. ASX closing price 20 May 2022.

VALUATION UPSIDE AS RESOURCE CONTINUES TO GROW

TRADING AT A SIGNIFICANT DISCOUNT TO GOLD PEERS

EV / Resource Ounce (A$/Oz)

75

$68

$54

50

$36

25

$4 0

Chesser	Oklo	Cora Gold	Marvel Gold
Resources	Resources	(AIM:CORA)	(ASX:MVL)
(ASX:CHZ)	(ASX:OKU)

See Appendix 3 for further information.	MARVEL GOLD • ASX:MVL 5