AusQuest : RRS MD Presentation

ersonal use only

A U S Q U E S T L I M I T E D ( A S X : A Q D )

The Next Six Months

Drilling at Balladonia (Cu-Pb-Zn-Ni) - Results Pending

Drilling at Hamilton (Cu-Au) - Results Pending

Drilling at Morrisey (Ni-Cu-PGE) - H3 / 2022

Drilling at Parcoy Peru (Cu-Au) - June / July 2022

Drilling at Cerro de Fierro Peru (Cu-Au) - Aug / Sept 2022

RRS MD Presentation June 2022

D I S C L A I M E R S

Forward-Looking Statements

only	This presentation contains forward looking statements concerning the projects owned by AusQuest Limited. Statements concerning mining reserves and resources may also be deemed to
	be forward looking statements in that they involve estimates based on specific assumptions. Forward-looking statements are not statements of historical fact and actual events and results
	may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on
	management's beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update forward looking statements if these
	beliefs, opinions and estimates should change or to reflect other future developments. Data and amounts shown in this presentation relating to capital costs, operating costs and project
	timelines are internally generated best estimates only. All such information and data is currently under review as part of AusQuest Limited's ongoing development and feasibility studies.
	Accordingly, AusQuest Limited cannot guarantee the accuracy and/or completeness of the figures or data included in the presentation until the feasibility studies are completed.
use	Competent Person's Statement
The details contained in this report that pertain to exploration results are based upon information compiled by Mr Graeme Drew, a full-time employee of AusQuest Limited. Mr Drew is a
	Fellow of the Australasian Institute of Mining and Metallurgy (AUSIMM) and has sufficient experience in the activity which he is undertaking to qualify as a Competent Person as defined in
	the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Drew consents to the inclusion in the
	report of the matters based upon his information in the form and context in which it appears.
	JORC - Exploration Targets
ersonal	It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this presentation relating to exploration targets should
not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential
	quantity and grade is conceptual in nature, since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will
	result in the determination of a Mineral Resource.
	Currency
	All dollar amounts shown in this presentation are in Australian dollars unless otherwise stated.
	2

ersonal use only

S t r a t e g i c A l l i a n c e A g r e e m e n t

• SAA with South32 active until the end of 2023
• South32 have exclusive rights to AQD Projects
• All funding provided for selected Projects
• Work programs & budgets agreed with South32
• US$4.5M spend earns 70% equity for each project
• AQD manages all programs (drilling) during earn-in
• Management fee - 15% of total expenditure

3

ersonal use only

Projects in West Australia

Three Projects under the SAA

• Balladonia - recent drilling identified new opportunities for large scale Cu-Au deposits similar to those found in NW Qld
• Morrisey - Priority drill targets for Ni-Cu- PGE mineralisation similar to Julimar identified by EM-Mag-Geochem surveys
• Jubilee - Recent Ni-Cu-PGE opportunity accepted under SAA

New opportunities (being advanced 2022)

• Moora (Julimar Ni-Cu-PGE target) & Mt Davis within new Earaheedy Basin Pb-Zn-Ag-Cu province (Rumble Resources)
• Paterson projects remain of interest - but have access issues

4

Strong Magnetics

onlyTea Tree useersonal

Balladonia - A New Base Metal Province?

• Drilling (~1100m) at Tea Tree identifies potential 'lode packages' similar to those hosting BHT &/or IOCG deposits in the Cloncurry belt in NW Qld
• New magnetics outlines numerous targets for BIF related mineralisation (Pb, Zn, Cu-Au) that have never been tested

Tea Tree Prospect

5