Minbos Resources : Investor Presentation-Cacata Project BFS Update

 CACATA PROJECT BFS Update

November 2016

Disclaimer

Competent Person

The information in this presentation that relates to the Exploration Results and Phosphate Resources, Production Targets and Cost Estimation was extracted from Minbos's ASX announcement dated 6 June 2012, 16 October 2013 and 5 December 2013 respectively entitled "Cacata Project - Scoping Study Produces Positive Results" "Minbos announces resource upgrade for the Cabinda licenses in Angola" and "Cabinda Resource Additional Information" and the Minbos Annual Report for the years ended 30 June 2014 to 30 June 2016 and Half Year Reports for the periods ended 31 December 2014 and 31 December 2015 which are available to view on the Company's website at www.minbos.com.

The information in the original ASX announcements and the Annual Report and Half Year Report that related to Exploration Results and Phosphate Resources is based on information compiled or reviewed by and approved for release by Ms Kathleen Body, Pr.Sci.Nat, who has over 20 years of experience in mineral exploration and mineral resource estimation. Ms Body is a Principal Consultant and Director of Redbush Geoservices (Pty) Ltd and contracted to Minbos Ms Body is registered with the South African Council for Natural Scientific Professions(SACNASP)as a Professional Natural Scientist. She has sufficient experience in relation to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined by the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (The JORC Code 2012 Edition). Ms Body has consented to inclusion of this information in the form and context in which it appears.

Minbos confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; 30 June 2016 Annual Report and 31 December 2015 Half Year Report b) all material assumptions and technical parameters underpinning the Phosphate Resource, Production Target and related financial information derived from the Production Target included in the ASX announcements,30 June 2016 Annual Report and 31 December 2015 Half Year Report continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons' findings are presented in this announcement have not been materially modified from the original ASX announcements,30 June 2016 Annual Report and 31 December 2015 Half Year Report

DISCLAIMER

Disclaimer

The Company has prepared this document based on information available to it at the time of preparation, from sources believed to be reliable and subject to the qualifications in this document. To the maximum extent permitted by law, the Company and it of affiliates, related bodies corporate (as that term is defined in the Corporations Act) and its respective directors, employees, officers, representatives, agents, partners, consultants and advisers (each a Limited Party and together, the Limited Parties) accept no responsibility or liability for the contents of this document. No representation or warranty, express or implied, is made as to the fairness, accuracy, adequacy, validity, correctness or completeness of the information, opinions and conclusions contained in this document. To the maximum extent permitted by law, none of the Limited Parties accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss whatsoever arising from the use of this document or its contents or otherwise arising in connection with it.

FORWARD-LOOKING STATEMENTS

This document contains statements, opinions and projections, all preliminary in nature, prepared by the Company on the basis of information developed by itself in relation to its Rock Phosphate projects, Cabinda and Kanzi, respectively, and together Projects). Such information can be described as at the pre-feasibility stage, due to the limited information provided to date, and may be subject to change.

Certain statements, beliefs and opinions contained in this document, particularly those regarding the possible or assumed future performance of the Company and the Projects are or may be forward looking statements. Forward looking statements can be identified by the use of forward looking terminology, including, without limitation, the terms "believes", "estimates", "anticipates", "expects", "predicts", "intends", "plans", "goals", "targets", "potential", "aims", "outlook", "guidance", "forecasts", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts. By their nature, forward looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company's ability to control or predict which may cause the actual results or performance of the Company and the Projects to be materially different from the results or performance expressed or implied by such forward-looking

statements. Forward looking statements are based on assumptions and are not guarantees or predictions of future performance. No representation is made that any of these statements or projections will come to pass or that any forecast result will be achieved, nor as to their accuracy, completeness or correctness. Similarly, no representation is given that the assumptions upon which forward looking statements may be based are

reasonable. Forward looking statements speak only as at the date of this document and the Limited Parties disclaim any obligations or undertakings to release any update of, or revisions to, any forward-looking statements in this document.

All dollar values contained in this document are in Australian dollars (A$) and the pro forma financial information is presented as at 7 November 2016 unless otherwise stated.

Key Points Simple Mining & Beneficiation

• Bulk sample confirms free dig mining without ripping, and either a DSO or Scrub and Screen flowsheet to produce high grade Rock Phosphate.

  Low Capex Low Opex High Margin

  • Pilot scale test work has identified significant equipment reductions on the 2012 Desktop Study flowsheet which will significantly reduce capex.

    New Infrastructure

• The Porto de Caio deep water port development 60km from the deposit by sealed road was not part of the 2012 Desktop Study.