Navarre Minerals : 24/10/2019 – Presentation – Gold & Alternative Investments Conference

Victoria's Gold Renaissance

Delivering Value Through Mineral Discovery

Gold & Alternative Investments Conference Shane Mele, Exploration Manager

24 October 2019

ASX: NML

Forward-looking Statement & Disclaimer

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.

Information contained in this presentation is confidential and the property of Navarre. This presentation must not be disclosed, copied, published, reproduced or distributed in whole or in part at any time without the prior written consent of Navarre and by accepting the delivery of this presentation, the recipient agrees not to do so and to return any written copy of this presentation to Navarre at its request.

COMPETENT PERSON STATEMENT

The information in this presentation that relates to exploration results is based on information compiled by Shane Mele, who is a Member of the Australasian Institute of Mining and Metallurgy and who is Exploration Manager of Navarre Minerals Limited. Mr Mele 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 Mele consents to the inclusion in the release of the matters based on his information in the form and context in which it appears.

Corporate Overview

CAPITAL STRUCTURE		SHARE PRICE & VOLUMES
			$0.16				30
Shares on issue	478.2 million		$0.14				25
Share price		Share Price (A$)	$0.12
$0.12	$0.10				20	Volume (m)
Market capitalisation	$57.4 million	$0.08				15
		$0.06				10
Cash (24 Oct 2019)	~$10.0 million
$0.04
Enterprise value			$0.02				5
$47.4 million
	$0.00				0
			Oct-18	Jan-19	Apr-19	Jul-19	Oct-19
BOARD OF DIRECTORS		TOP SHAREHOLDERS	Kirkland Lake Gold ^
						The Victor Smorgon Group
Kevin Wilson	Chairman			10.0%		Board of Directors
Geoff McDermott	Managing Director				9.1%	1832 Asset Management
						Other top 20
John Dorward	Non Executive Director				8.8%	Others
Colin Naylor	Director & Company Secretary		55.9%
			8.5%
				7.6%

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^ Owner and operator of Fosterville Gold Mine

Navarre Minerals Limited

Key player in Victoria's gold renaissance

Navarre specialise in the discovery of gold in Victoria and is aiming to deliver large mineral deposits from a pipeline of quality projects

Goal: Maiden mineral resource in H2 2020

❑ Two advanced projects near major operating gold mines:

➢ Irvine: Stawell Gold Corridor

➢ Tandarra JV: Bendigo Gold Corridor

❑ Several early-stage discoveries:

➢ Langi Logan: Stawell Gold Corridor

➢ St Arnaud: gold - silver

➢ Glenlyle: gold - silver - base metals

➢ Eclipse: copper - gold - base metals

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Stawell Corridor Gold Project

Aiming to deliver Victoria's next multi-million ounce gold deposits

• Proven gold corridor - 6Moz from Stawell & Ararat goldfields
• Led by Stawell's operating +4Moz Magdala gold deposit
• Dominant (100%) ownership of 60km strike of "Corridor"

❑ Three gold discoveries by Navarre to date:

• • Q4 2016 discovery of Resolution Lode - 6.0m @ 6.3 g/t Au*
  • Q4 2017 discovery of Adventure Lode - 6.0m @ 5.1 g/t Au*
  • Q4 2018 discovery at Langi Logan - 33m @ 2.9 g/t Au*
• 7 basalt domes - primary targets to host large gold deposits

* See NML ASX releases of 15 December 2016, 13 December 2017 & 12 February 2019

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