Aurelia Metals : Investor Presentation - Macquarie Western Australia Forum

only2021 MACQUARIE WESTERN AUSTRALIA FORUM

use1 December 2021

Dan Clifford, Managing Director & CEO

ersonalASX Code: AMI

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ersonalMACQUARIEuse	WA FORUM	DECEMBER 2021

FORWARD LOOKING

STATEMENTS

This presentation has been prepared by Aurelia Metals Limited ("AMI" or the "Company"). 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.

This presentation contains forward-looking statements that are not

based on historical fact, including those identified by the use of forward-looking terminology containing such words as "believes", "may", "will", "estimates", "continue", "anticipates", "intends", "expects", "should", "schedule", "program" , "potential" or the negatives thereof and words of similar import.

AMI cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements. The Company believes that the estimates are reasonable, but should not be relied upon.

AMI makes no representation, warranty (express or implied), or assurance as to the completeness or accuracy of these projections and, accordingly, expresses no opinion or any other form of assurance regarding them. The Company does not intend to publish updates or revisions of any forward-looking statements included in this document

to reflect Aurelia's circumstances after the date hereof or to reflect subsequent market analysis, other than to the extent required by law.

By its very nature, production and exploration for gold and base metals is a high risk business and is not suitable for certain investors. Potential investors should consult their stockbroker or financial advisor. There are a number of risks, both specific to AMI and of a general nature which may affect the future operating and financial performance of AMI and the value of an investment in AMI including and not limited to economic conditions, stock market fluctuations, commodity price movements, regional infrastructure constrains, equipment availability, timing of approvals from relevant authorities, regulatory risks, operational risks, reliance on key personnel and foreign currency fluctuations.

You should not act or refrain from acting in reliance on this presentation material. This presentation does not purport to be all inclusive or to contain all information which its recipients may require

in order to make an informed assessment of the Company's prospects.

You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

This presentation has been authorised for release to the ASX by Dan Clifford - Managing Director & CEO.

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AURELIA

SNAPSHOT

Our vision is to be a mining business recognised for creating exceptional value through our people and a portfolio of gold and base metals assets.

We value Integrity, Certainty, Courage and Performance for the safety and wellbeing of our people, and for the benefit of our shareholders and the communities in which we operate.

Shareholder register composition

35%		Australian institutions
	International institutions
48%		Other
17%	Major shareholders
Mitsubishi UFJ	6.5%
	Platypus Asset Mgt	5.7%

ASX: AMI

Share price (30 Nov 2021)	A$0.43
Shares on issue	1,234	M
Market capitalisation	A$531.26	M
Net cash (30 September 2021)	A$22	M

Board and management

Role	Name
Non-Executive Chairman	Peter Botten
Managing Director and CEO	Dan Clifford
	Lawrie Conway
	Susie Corlett
Non-Executive Directors	Helen Gillies
	Paul Harris
	Bob Vassie
CFO & Company Secretary	Ian Poole
COO	Peter Trout

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THE PORTFOLIO

Three cashflow producing assets through regional New South Wales

PEAK	FY22e outlook	FY21 actual
Gold (koz)	53-58	57
Lead (kt)	13.0-14.5	15.8
Zinc (kt)	13.0-14.5	10.8
Copper (kt)	3.5-4.0	4.7
AISC (A$/oz)	1,350-1,550	867
HERA	FY22e outlook	FY21 actual
Gold (koz)	14-15	31
Lead (kt)	11.5-12.5	10.1
Zinc (kt)	18.0-20.0	14.3
Copper (kt)	-	-
AISC (A$/oz)	1,200-1,400	1,206
DARGUES	FY22e outlook	FY21 actual 1
Gold (koz)	45-50	15

ersonalWAMACQUARIEFORUM DECEMBER 2021

Lead (kt)	-	-
Zinc (kt)	-	-
Copper (kt)	-	-
AISC (A$/oz)	1,500-1,700	2,483

1. FY21 actual includes Dargues contribution from point of economic ownership (17 December 2020 onwards)

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FY22 GROUP

PRODUCTION GUIDANCE

Group Output	FY22e outlook	FY21 actual
Gold (koz)	112 - 123	104
Lead (kt)	24.5 - 27.0	25.9

FY22e forecast gold production by quarter

Forecast % of FY22e gold output

Actual % of FY22e gold output

Zinc (kt)	31.0	- 34.5	25.1
Copper (kt)	3.5	- 4.0	4.7
AISC (A$/oz)	1,500 - 1,700	1,337
- Sustaining capital (A$M)	61	- 69	48
Growth capital (A$M)	16	- 18	26
Exploration & evaluation	28 - 31	25
(A$M)

Group AISC is the total of on-site mining, processing and administrative costs, inventory adjustments, royalties, sustaining capital, corporate general and administration expense, less by-product credits, divided by gold sold. By-product credits include silver, lead, zinc and copper sales forecast over the outlook period.

Estimated FY22 Group AISC of A$1,500 to A$1,700/oz is based on reference base and silver metal

35%

30%

25%

20% 21%

15%

10%

5%

0%

29%

25%

25%

23%

prices of: lead A$2,657/t, zinc A$3,533/t, copper A$12,012/t and silver A$29.5/oz. Final AISC results will depend on the actual sales volumes, actual operating costs and actual prices of base metals received over the outlook period

SepQ2021 DecQ2021 MarQ2022 JunQ2022

It should be noted that this outlook is indicative only and subject to change in response to prevailing and/or expected operating and market conditions.