Navarre Minerals : Investor Presentation - February 2022

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I N S T I T U T I O N A L I	N V E S T O R R O A D S H O W
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FORWARD LOOKING STATEMENT

U N E A R T H I N G P R O S P E R I T Y

ASX: NML

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This presentation has been prepared by Navarre Minerals Limited (Navarre or the Company). It contains general information about the Company's activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. 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 or any information, opinions or conclusions expressed in the course of this presentation. This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only and is not a recommendation as to whether to invest in Navarre shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Navarre management estimates.

This presentation does not include all available information on Navarre, and any potential investor should also refer to Navarre's Annual Reports and ASX releases and take independent professional advice before considering investing in Navarre. For more information about Navarre Minerals Limited, visit the website at www.navarre.com.au.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Navarre or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance.

This presentation may contain "forward-looking statements" within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward- looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information

Competent Person Statement

The information in this presentation that relates to exploration results is based on information compiled by Geoff McDermott, who is a Member of the Australasian Institute of Mining and Metallurgy and who is Technical Director of Navarre Minerals Limited. Mr McDermott 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 McDermott consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. The Company is not aware of any new information or data that materially affects the information included in this presentation. All material assumptions and technical parameters underpinning the estimates in the Announcements referred to continue to apply and have not materially changed.

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LAUNCHING INTO THE PRODUCER RANKS

U N E A R T H I N G P R O S P E R I T Y

ASX: NML

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Acquisition of Mt Carlton Gold Mine completed mid December 2021

• Transformation of Navarre to producer status with immediate cashflow generation

W orld-class addresses for further gold discovery and production

• Assets in Queensland and Victoria, excellent local standing and relationships

Significant exploration upside potential across the portfolio

• Extensive landholding position, outstanding prospectivity and available cashflow

Experienced Board and Management Team

- Deeply experienced board and management team with proven track in value creation

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BOARD AND MANAGEMENT TEAM

U N E A R T H I N G P R O S P E R I T Y

ASX: NML

Kevin Wilson Non-Executive Chair

Mr Wilson has over 30 years' experience in the minerals and finance industries. He was the Managing Director of Rey Resources Limited, an Australian energy exploration company, from 2008 to 2016 and Leviathan Resources Limited, a Victorian gold mining company, from its initial public offering in 2005 through to its sale in 2006. He has prior experience as a geologist with the Anglo American Group in Africa and North America and as a stockbroking analyst and investment banker with CS First Boston and Merrill Lynch in Australia and USA.

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Ian Holland Managing Director

Geoff McDermott Technical Director

Garth Campbell-CowanNon-Executive Director

Paul Hissey Chief Financial Officer

Ian Holland has over 20 years of experience in the minerals industry across a number of gold and base metal operations throughout Australia. He is a geologist by background and has a strong track record of value creation with his most recent role as Vice President, Australian Operations for Kirkland Lake Gold where he lead the growth of the world-class Fosterville Gold mine in Victoria. He was also previously the General Manager of Fosterville for a number of years as well as roles at Mount Isa Mines, Mount Gordon and Renison. He holds both a Bachelor of Science and a Master of Minerals Geoscience from James Cook University, as well as a Graduate Diploma in Applied Finance and Investment from the Securities Institute.

Geoff McDermott is an experienced geologist and founding Managing Director of Navarre Minerals. Geoff has over 30 years industry experience working as a geologist in surface and underground metalliferous mining operations, in minerals exploration and as a consultant to the minerals industry. He has a broad range of international experience having worked as a geologist in Canada, Fiji and Australia for companies such as WMC and Rio Tinto as well as with the Government of the Northwest Territories, Canada.

Mr Garth Campbell-Cowan has over 30 years' experience as a finance executive across a number of industries, including extensive experience in the minerals sector in Australasia and North America. Most recently, he was the Chief Financial Officer for St Barbara Limited where he was part of the executive team that managed the company's transformation from junior miner to an ASX200 company. Mr Campbell-Cowan has held finance positions with Newcrest Mining, Western Mining, ANZ Bank and Telstra. He is a Chartered Accountant and a Fellow of Chartered Accountants Australia and New Zealand. He also holds a Graduate Diploma in Applied Finance and Investment from the Securities Institute.

Paul Hissey has a broad range of technical, financial and market experience achieved through more than 20 years working firstly as a geologist in mining operations in resource and production roles before a transition to capital markets as a respected research analyst with global investment banks RBC and Goldman Sachs. Paul has a Bachelor of Applied Science (Hons) from the University of South Australia, as well as an MBA from the Chifley Business School and a Graduate Diploma in Applied Finance from Kaplan Professional.

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C O R P O R A T E O V E R V I E W ( A S X : N M L )

		CAPITAL STRUCTURE
BOARD OF DIRECTORS			SHARE PRICE	$0.09
			SHARES ON ISSUE	1,364.7	million
Kevin Wilson	Non-Executive Chairman		PERFORMANCE RIGHTS	3.1	million
			OPTIONS	12.2	million
Ian Holland	Managing Director
	FULLY DILUTED	1,380	million
Geoff McDermott	Technical Director		MARKET CAPITALISATION	$122.8	million
			CASH (31 DEC 2021 - UNAUDITED)	$18	million
Garth Campbell-Cowan	Non-Executive Director
	ENTERPRISE VALUE	$104.8	million

SHARE PRICE & VOLUMES			TOP SHAREHOLDERS
only				$0.25	EVOLUTION MINING	12.9%
use				$0.20	KIRKLAND LAKE GOLD	9.9%
			$0.15	SUN VALLEY GOLD	6.7%
			$0.10	BOARD OF DIRECTORS	3.3%
			$0.05	OTHER TOP 20	20.8%
			OTHER	46.4%
				$0.00
J n-21	Apr-21	Jul-21	Oct-21	Jan-22
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