Announcement PDF NOOSA IN NOVEMBER INVESTOR PRESENTATION An emerging uranium developer in Tanzania Wednesday, 15 November 2023 1 DISCLAIMER The information contained in this presentation has been prepared by AuKing Mining Limited (AKN). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in AKN. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement or offer information statement. This presentation is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act. While the information contained in this presentation has been prepared in good faith, neither AKN nor any of its Directors, officers, employees, agents or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, none of AKN, its Directors, officers, employees, agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation. This presentation may contain statements that may be deemed ‘forward-looking statements. Forward risks, uncertainties and other factors, many of which are outside the control of AKN, can cause actual results to differ materially from such statements. Such risks and uncertainties include, but are not limited to, commodity price volatility, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. AKN makes no undertaking to update or revise such statements but has made every endeavour to ensure that they are fair and reasonable at the time of making the presentation. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in any forwardlooking statements made. Exploration priorities change with increased data and knowledge, as such targets and concepts outlined in this presentation may or may not be tested or be tested by different means. Competent Persons’ Statements The information in this report that relates to exploration results at the Koongie Park Project (both current and historic) is based on information compiled by Mr Ian Hodkinson who is a member of the Australian Institute of Geoscientists and the Society for Geology Applied to Mineral Deposits. Mr Hodkinson is a non-executive director of AuKing Mining Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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 Hodkinson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Mineral Resources at the Koongie Park Project is based on information compiled by Mr David Williams who is a member of the Australian Institute of Geoscientists. Mr Williams is a Principal Consultant Geologist (Brisbane) of CSA Global and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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 Williams consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information relating to the Mineral Resources at the Koongie Park Project is extracted from the Independent Resource Estimate Report of CSA Global dated 4 April 2022, a full version of which is available to view on the AKN website www.aukingmining.com. This presentation has been authorised by Paul Williams, Chief Executive Officer. 2 GLOBAL URANIUM MARKET The best fundamentals in 10 years • 10 years of under-investment in uranium exploration and development • Long-term contract market between producers and utilities has resumed • World Nuclear Association reports (Nov): 436 operating reactors (392GW) 61 under construction (68GW) 112 ordered or planned (109GW) 318 proposed reactors (353GW) World 2023 uranium requirement revised up by 8.2M lbs to 171M lbs • Development of Small Nuclear Reactors 1000m is advancing globally • Financial market speculation (eg Sprott Physical Uranium Investment Trust) Historical uranium price – Spot price (blue), Longterm price (grey) 3 URANIUM STRUCTURAL SUPPLY SHORTAGE Paladin Energy presentation Diggers and Dealers, August 2023 TANZANIAN PROJECTS An exciting, new acquisition* AKN has acquired several uranium and copper licences in Tanzania including: MKUJU – nearby the world class Nyota uranium project in southern Tanzania; the subject of significant previous exploration MANYONI/ITIGI – situated in central Tanzania, 100kms west of Dodoma; existing JORC (2004) resource of 92Mt (29Mlbs of U3O8) with potential to be in near-term production MPANDA/KAREMA – prospective copper areas in western Tanzania that were the subject of historic mining operations but largely untouched by modern exploration methods. Well-known Tanzanian-born mining entrepreneur Asimwe Kabunga is the Chairman the AKN Board and a substantial shareholder. *Refer ASX release dated 31 January 2023 5 MKUJU URANIUM PROJECT Near the world class Nyota U3O8 project Situated in southern Tanzania, Mkuju region was the focus of then-ASX Listed Mantra Resources. • Mantra established the world class Nyota uranium project, which was the subject in 2011 of a successful $1.16B takeover by Russian ARMZ Group. • Mantra (and other groups) carried out significant exploration work on the areas to the south of Nyota, many of which have now been acquired by AKN. 1000m 6 MKUJU URANIUM PROJECT (cont) Potential to establish a large Nyotastyle deposit at Mkuju • AuKing holds seven (7) PLs to the immediate south-east of Nyota, 3 new application areas over high radiometric anomalies • PLs cover an area of 730 sq kms – much of which was identified by Mantra in 2007 as a significant radiometric anomaly • AuKing has commenced a diamond and auger drilling program over an estimated 150 shallow drill holes 1000m • More detailed drilling is planned, pending results from initial activities. 7 MANYONI/ITIGI URANIUM PROJECT AKN’s Manyoni PLs overlaying historical playa deposits Manyoni was subject to extensive historical drilling and exploration before the Fukushima disaster in 2011. • Project is situated near the central Tanzanian city of Dodoma on the main railway line to the port city of Dar-Es-Salaam. • Itigi is situated 80kms west of Manyoni and contains a significant 40km x 10km radiometric anomaly – potential to significantly increase already known Manyoni uranium resources • Mineralisation largely occurs as near-surface (>50m depth) ancient playa deposits. • AKN has completed an initial exploration drilling program at Itigi. Assay results are expected in 6-8 weeks. 1000m 8 TANZANIAN COPPER Greenfield copper opportunity in western Tanzania Situated in western Tanzania, AKN has secured interests in copper-prospective areas Mpanda and Karema. • Mpanda mineral field hosts the historical Mukwamba mine which produced copper for 30 years until 1960 • At Karema there is a significant number of historic artisanal copper and base metals mines. • Both Mpanda and Karema have yet to be subjected to modern exploration techniques. • AuKing completed an initial soil sampling program in June – awaiting assay results prior to further activities. 9 Halls Creek KOONGIE PARK PROJECT Onedin Deposit Mining Study completed for development of a copper/zinc mine near Halls Creek in northeastern Western Australia EL4960 Key findings from the Scoping Study include: • 11-year mine life, mining each of the Sandiego, Mt Angelo North, Onedin and Bommie deposits. • Estimated $134M development capex 2.45 years payback. • Pre-tax NPV8 of $177M. Cosmo Prospect Sandiego Deposit Nicholson’s Mine 4.1Mt @1.38% Cu, 4.28% Zn, 25g/t Ag Pantoro Ltd Mt Angelo North Cazaly Resources 1.72Mt @1.4% Cu, 1.4% Zn, 12.3g/t Ag Emull Prospect 12.2Mt @0.27% Cu, 0.38% Zn, 4.9g/t Ag 39.7% IRR. • LoM EBITDA $443.8M with average operating cashflow of $40.3M pa. 1 Refer ASX announcement of 1 June 2023 titled Positive Scoping Study results for Koongie Park copper project for full details 1 Mining Lease Prospecting Licence Bommie Cazaly Resources • 1 4.8Mt @0.7% Cu, 3.2% Zn, 0.3g/t Au, 38g/t Ag 95.6Mt @ 0.27% Cu Exploration Licence Homestead JORC Deposits Major Prospects 10Km 10 INVESTMENT HIGHLIGHTS Uranium projects already the subject of major previous exploration and drilling Mkuju next to world-class Nyota uranium project Strong incountry Tanzanian connections and experience + Uranium is gaining momentum in the current energy market 11 CORPORATE SNAPSHOT Executive Chairman Paul Williams Chief Executive Officer Zuliang (Park) Wei Non-Executive Director Peter Tighe Shares on issue Non-Executive Director Shizhou Yin Non-Executive Director Chris Bittar Exploration Manager CAPITAL STRUCTURE Asimwe Kabunga 204.2 million Market Capitalisation $10 million Cash $0.55 million @ 30 September 2023 Top 20 Shareholders 61% 12 CONTACT DETAILS Auking Mining Ltd Level 22, 127 Creek Street, Brisbane QLD 4000 Office: +61 7 3535 1208 Paul Williams: +61 419 762 487 Email: p.williams@aukingmining.com www.aukingmining.com 13