AIC Mines : Eloise Copper Mine Almanac

ersonal use only

Eloise Copper Mine Almanac

March 2022

Important information

This presentation has been prepared by AIC Mines Limited (ABN 11060156452) ("the Company" or "AIC Mines") to provide summary information about AIC Mines and its activities at the date of this presentation. The information contained in this presentation does not purport to be complete, and it should be read in conjunction with AIC Mines' other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or www.aicmines.com.au.

The presentation should not be construed as an offer or invitation to subscribe for or purchase securities in AIC Mines.

onlyStatements in this document are made only as of the date of this document unless otherwise stated and the information in this document remains subject to change without notice. No responsibility or liability is assumed by AIC Mines or any of its affiliates for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which AIC Mines and any of its affiliates or advisers may become aware.

The information contained in this document has been prepared in good faith by AIC Mines, however no guarantee, representation or warranty expressed or implied is or will be made by any person (including AIC Mines and its affiliates and their directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this document.

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egligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or

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F rward looking statements

Certain information in this document refers to the intentions of AIC Mines, but these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of the events in the future are subject to risk, uncertainties and other actions that may cause AIC Mines' actual results, performance or achievements to differ from those referred to in this document. Accordingly, AIC Mines and its affiliates and their directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of these events referred to in the document will actually occur as contemplated.

Statements contained in this document, including but not limited to those regarding the possible or assumed future costs, performance, dividends, returns, revenue, exchange rates, potential growth of AIC Mines, industry growth or other projections and any estimated company earnings are or may be forward looking statements. Forward-looking statements can generally be identified by the use of words such as 'project', 'foresee', 'plan', 'expect', 'aim', 'intend', 'anticipate', 'believe', 'estimate', 'may',

'	hould', 'target' or 'will' or similar expressions. These statements relate to future events and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of AIC Mines. Actual results,
performance, actions and developments of AIC Mines may differ materially from those expressed or implied by the forward-looking statements in this document.
S	ch forward-looking statements speak only as of the date of this document. There can be no assurance that actual outcomes will not differ materially from these statements. To the maximum extent permitted by law, AIC Mines and any of its affiliates
and their directors, officers, employees, agents, associates and advisers:
use	disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions;

		do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or
		implied in any forward-looking statement; and
		disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).
No new information or data
I	formation relating to exploration results is extracted from recent ASX announcements released by AIC Mines. The Company confirms that it is not aware of any new information or data that materially affects the information included in these
a	ouncements.
ersonal

Authorisation

This presentation has been approved for issue by, and enquiries regarding this report may be directed to Aaron Colleran, AIC Mines Managing Director - email [e-mail]

AIC Mines

A growth company leveraged to

the copper price and exploration
success
only	Operating foothold established in

	the Mt Isa - Cloncurry region, one
	of the most significant copper
	producing regions in the world.
	All assets located in mining friendly
use	jurisdictions.
Building a portfolio of mines through
ersonal	exploration, development and
acquisition.

Lamil

Project

Marymia

Project

Perth

Exploration

Office

Mt Isa

Eloise

Copper Mine

Brisbane

Delamerian

Project

Sydney

Corporate

Office

3

onlyEloise Copper useMine

ersonal

Strong Free Cashflow

A producing mine with a 26-year history providing strong free cashflow with relatively low technical risk.

A great time to be a copper producer

Strong demand and price outlook for copper.

Excellent exploration potential

High-grade ore body with a robust mine life supported by current reserves and resources. Clear potential to further extend the mine life.

A great location

One of the most significant copper producing regions of the world.

Ability to add value

Ability to add value through resource growth, operational reliability and regional consolidation.

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Eloise Copper Mine

Overview

only	Location	60km SE of Cloncurry and 155km ESE of Mt Isa
Tenements	Mining leases covering 505.9 ha
Mineralisation	Iron Sulphide Copper Gold (ISCG).
Mineral Resources	103,500t Cu and 93,300oz Au
Ore Reserves	30,300t Cu and 26,700oz Au
Mining Method	The upper levels of the mine are extracted by longhole open stoping and the deep
use		levels are extracted by sublevel caving
Operating Structure	Owner-miner with contractor for underground development
Processing Method	Conventional crushing, grinding and sulphide floatation circuit
		Processing Capacity	750ktpa processing capacity
		Recovery	94 - 95% Cu
		Concentrate production	45 - 50ktpa grading 27% Cu and 4g/t Au. No deleterious elements.
ersonal	Royalties	Queensland State royalty. No other royalties.
Workforce	Approx. 150 employees and 80 contractors. FIFO. On site accommodation.
			On site diesel generators (owned). The powerhouse has total generating capacity
		Power	of 12MW and consists of seven high voltage (1.5MW) and three low voltage
			(0.7MW) generators.
			Established bore field with annual allocation of 355ML and current annual
		Water	consumption of approximately 200ML. Water is harvested through runoff into two
			dams during high rainfall events.

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