BUILDING A LEADING ASIAN COPPER MINING BUSINESS

KSK Project Resource Update Presentation - May 2022

AIM : ARS JUNE 2019

Forward Looking Statement

The information contained in this confidential document (the "Presentation") has been prepared by Asiamet Resources Limited (the "Company" or "Asiamet") solely for informational purposes.

Information contained herein does not purport to be complete and is subject to certain qualifications and assumptions and should not be relied upon for the purposes of making an investment in the securities or entering into any transaction. The information and opinions contained in the Presentation are provided as at the date of this Presentation and are subject to change without notice and, in furnishing the Presentation, the Company does not undertake or agree to any obligation to provide recipients with access to any additional information or to update or correct the Presentation.

Except as required by applicable law or regulation, none of the Company or any of its directors, officers, partners, employees, agents, affiliates, representatives or advisers undertakes or agrees any obligation to update or revise any forward-looking or other statement or information in this Presentation, whether as a result of new information, future developments or otherwise and the Company or any of its directors, officers, partners, employees, agents, affiliates, representatives or advisers or any other party undertakes or agrees or is under a duty to update this Presentation or to correct any inaccuracies in, or omissions from, any such information which may become apparent or to provide you with any additional information. No statement in this Presentation is intended as a profit forecast or profit estimate (unless otherwise stated).

To the fullest extent permitted by applicable law or regulation, no undertaking, representation or warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any directors, officers, partners, employees, agents, affiliates, representatives or advisers, or any other person, as to the accuracy, sufficiency, completeness or fairness of the information, opinions or beliefs contained in this Presentation. Save in the case of fraud, no responsibility or liability is accepted by any person for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred, howsoever arising, directly or indirectly, from any use of, as a result of the reliance on, or otherwise in connection with, this Presentation. In addition, no duty of care is owed by any such person to recipients of this Presentation or any other person in relation to the Presentation.

This presentation contains "forward-looking statements" including but not limited to, statements with respect to the Company's plans and operating performance, the estimation of Mineral Reserves and Mineral Resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which the Company operates.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Forward Looking Statement

The documented geometries of mineralised inventory or exploration targets are not intended to be a proxy, or used as a basis, for mineral resource calculations. It is not certain if additional exploration will result in the delineation of Mineral Resources in, or near, these target zones. Resource and reserve calculations that are NI 43-101 compliant have yet to be determined for the mineralised systems in the Company's projects. This does not imply that the mineralisation contains economic Mineral Resources but merely highlights the relationships of the mineralised zones identified

Qualified Person

Duncan Hackman (B. App. Sc., MSc., MAIG) of Hackman & Associates Pty Ltd (Australia) is the independent Qualified Person within the meaning of JORC 2012 for the purposes of Mineral Resource estimates contained within this Presentation. John Wyche from Australian Mine Design and Development Pty Ltd. Is the independent qualified person for the purpose of the BKM Ore Reserve Statement. Mr Wyche is a Member of the Australasian Institute of Mining and Metallurgy. He has 32 years of experience with the BKM style of mineralisation and type of mining. He has consented to be named as the Competent Person for the Ore Reserves.

By accepting this Presentation, and in consideration for it being made available to such recipient, each recipient agrees to keep strictly confidential the information contained in it and any information otherwise made available by the Company, whether orally or in writing. In the case of a corporate recipient, this Presentation may only be disclosed to such of its directors, officers or employees who are required to review it for the purpose of deciding whether to make an investment in the Company. This Presentation has been provided to each recipient at their request, solely for their information, and may not be reproduced, copied, published, distributed or circulated, to any third party, in whole or in part, or published in whole or in part for any purpose, without the express prior written consent of the Company.

This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"). This Presentation does not constitute or form part of an offer or invitation to issue or sell, or the solicitation of an offer to subscribe or purchase, any securities to the public within the meaning of sections 85B and 102B of FSMA and it is being delivered for information purposes only to a very limited number of persons and companies who are 'qualified investors' within the meaning of section 86(7) of FSMA purchasing as principal or in circumstances under section 86(2) of FSMA, as well as persons who have professional experience in matters relating to investments and who fall within the category of persons set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it (together, the "Relevant Persons"). This Presentation is distributed only to and directed only at Relevant Persons and must not be acted on or relied upon by persons who are not Relevant Persons. Any other person who receives this Presentation should not rely or act upon it. By accepting this Presentation and not immediately returning it, the recipient is deemed to represent and warrant that: (i) they are a person who falls within the above description of persons entitled to receive the Presentation; (ii) they have read, agree and will comply with the contents of this notice; and (iii) they will use the information in this Presentation solely for evaluating their possible interest in acquiring securities of the Company. If you are in any doubt as to the matters contained in this Presentation (including whether you fall within the definitions of Qualified Investor or Relevant Person) you should consult an authorised person specialising in advising on investments of the kind contained in this Presentation. Any investment or investment activity to which this Presentation relates is available only to Qualified Investors and Relevant persons. The securities mentioned herein have not been and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under any U.S. State securities laws, and may not be offered or sold in the United States of America or its territories or possessions (the "United States") unless they are registered under the Securities Act or pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. Neither this Presentation nor any copy of it may be taken or transmitted into the United States, or distributed, directly or indirectly, in the United States, or to any "US person" as defined in Regulation S under the Securities Act of 1933, including US resident corporations or other entities organised under the laws of the United States or any state thereof or non-U.S. branches or agencies of such corporations or entities. This Presentation is not being made available to persons in Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction in which it may be unlawful to do so and it should not be delivered or distributed, directly or indirectly, into or within any such jurisdictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

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KSK Project - BKZ Resource Estimate 2022

Highlights:

  • 50% increase in contained Zinc in the UPZ (2022 MRE : 90kt contained zinc, 2018 MRE : 60kt zinc at a 4% zinc cut-off grade) Upper Polymetallic Zone (UPZ) Inferred Resources comprise:

1,050kt @ 8.6% Zinc, 3.5% Lead, 62g/t Silver and 0.31g/t Gold containing 90kt Zinc, 37kt Lead, 2,076koz Silver and 10.5koz Gold at a 4% Zinc cut-off grade; and an additional 600kt @ 1.5% Zinc, 0.4% Lead, 15g/t Silver and 0.21g/t Gold containing 9kt Zinc, 2kt Lead, 295koz Silver and 4.1koz Gold at a 1% Zinc cut-off grade

  • 75% increase in contained Copper in the LCZ (2022 MRE : 21kt copper, 2018 MRE : 12kt copper at a 0.5% copper cut-off grade) Lower Copper Zone (LCZ) Inferred Resources comprise:
    1,600kt @ 1.3% Copper, 17g/t Silver and 0.14g/t Gold containing 21kt Copper, 895kt Silver and 7.2koz Gold at a 0.5% cut-off grade
  • Both the UPZ and LCZ remain open for targeting further Resource growth. The UPZ remains open to the north and east with outcrop to the west, while the LCZ remains open at depth.

JORC (2012) defined Exploration Targets comprise.

    1. UPZ Exploration Target: 250,000 to 1,500,000 tonnes @ 6-9% Zn and 3-5% Pb
    1. LCZ Exploration Target: 100,000 to 150,000 tonnes @ 1-1.5% Cu
  • Potential for 100-220koz Gold and 10-20Moz Silver to be converted from Exploration Target to Resource with additional drilling and metallurgical test work.
    1. Upper Gold-Silver Exploration Target 3.0-3.8Mt @ 1.0-1.5 g/t Au and 100-150 g/t Ag
  1. Lower Gold-Silver Exploration Target 1.0-1.5Mt @ 0.4- 0.7 g/t Au and 20-40 g/t Ag

The Exploration Target at BKZ refers to the areas outside of the BKZ Mineral Resources. The reported potential quantity and grade of the targets are conceptual in nature. There has been insufficient exploration and evaluation to estimate a Mineral Resource for these targets and it is uncertain if further evaluation will result in the estimation of a Mineral Resource in the target areas. The Exploration Target has been prepared and reported in accordance JORC Code (2012).

MRE : Mineral Resource Estimate

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KSK Project - BKZ Resources + Exploration Targets 2022

UPZ Zn-Pb-Ag-Au Resource

LCZ Cu-Ag Resource

The Exploration Target at BKZ refers to the areas outside of the BKZ Mineral Resources. The reported potential quantity and grade of the targets are conceptual in nature. There has been insufficient exploration and evaluation to estimate a Mineral Resource for these targets and it is uncertain if further evaluation will result in the estimation of a Mineral Resource in the target areas. The Exploration Target has been prepared and reported in accordance JORC Code (2012).

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Asiamet Resources Ltd. published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2022 08:06:28 UTC.