onlyABOUT CALIDUS RESOURCES Ca idus Resources is an ASX listed gold compa y that is developing the 1.5Moz Warrawoona Gold Project in the East Pilbara district of Western Australia.

DIRECTORS AND MANAGEMENT

Mr Mark Connelly useNON-EXECUTIVECHAIRMAN

Mr David Reeves

MANAGING DIRECTOR

Mr John Ciganek

NON-EXECUTIVE DIRECTOR

Mr Keith Coughlan

NON-EXECUTIVE DIRECTOR

personalMr Paul Brennan

PROJECT DEVELOPMENT

Mr Rich rd Hill

CHIEF FINANCIAL OFFICER

Ms Julia Beckett

COMPANY SECRETARY

calidus.com.au

ForASX : CAI

info@calidus.com.au

Suite 12, 11 Ventnor Ave

West Perth WA 6005

AUSTRALIA

17 November 2021

AGM PRESENTATION

Calidus Resources Limited ("Calidus" or "the Company") (ASX: CAI) advised that Managing Director, Mr Dave Reeves, will provide a presentation at the Annual General Meeting ("AGM") being held at 2:30pm today, 17 November 2021, at the Celtic Club, 48 Ord Street, West Perth WA 6005.

The presentation associated with the AGM is attached and is also available on the Company's website:

www.calidus.com.au

This announcement has been authorised by the Managing Director.

For further information please contact:

Dave Reeves

Managing Director

info@calidus.com.au

WARRAWOONA GOLD PROJECT

onlyAUSTRALIA'S NEXT GOLD PRODUCER

TARGETING 130,000 OZ PA| AGM PRESENTATION - NOVEMBER 2021

ASX:CAI

ersonaluse

DISCLAIMERonly

DISCLAIMER

This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Calidus Resources Limited (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, useopinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation includes forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Calidus. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Calidus does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

COMPLIANCE STATEMENT - WARRAWOONA GOLD PROJECT

ersonalThe information in this presentation that relates to Exploration Results, Mineral Resources, Mineral Reserves and Production Targets (and the forecast financial information derived from the production targets) at the Warrawoona Gold Project has been previously released to the ASX on 29 September 2020. The Company confirms it is not aware of any new information that materially affects the announcement and that all material assumptions underpinning the Exploration Results, Mineral Resources, Mineral Reserves and Production Targets (and the forecast financial information derived from the production targets) continue to apply and have not materially changed.

COMPLIANCE STATEMENT - BLUE SPEC GOLD / ANTIMONY PROJECT

The information in this presentation that relates to Exploration Results and Mineral Resources at the Blue Spec Gold / Antimony Project that has been previously released to the ASX on 2 October 2020 and 8 November 2021. The Company confirms it is not aware of any new information that materially affects the announcement and that all material assumptions underpinning the Exploration Results and Mineral Resources continue to apply and have not materially changed.

PAGE 2

AUSTRALIA'S NEXT GOLD PRODUCER

DEVELOPING THE WARRAWOONA GOLD PROJECT IN WA

ersonal use only

Stage 1 - Under construction (71% complete)

  • Average production of 90koz pa
  • LOM AISC $1,290/oz - Initial 8-year mine life
  • First gold due June Qtr 2022 - on schedule and budget

Stage 2 - Expansion to 130koz pa via inclusion of Blue Spec Project funded through operational cashflows

Expand 1.7Moz Resource Base through near-mine and regional exploration

Management team are proven mine developers & operators with a strong track record of wealth creation

CORPORATE SUMMARY

$0.75

CAPITAL STRUCTURE

$0.50

SHARES ON ISSUE

400M

Share Price (A$)

MARKET CAP1

$248M

$0.25

CASH (30 September 2021)

$22M

DEBT FACILITY (54.5M drawn)

$110M

5.00

$0.00

onlyLISTED INVESTMENTS (30 Sep 2021)

$0.2M

Volume (m)

OPTIONS

9.9M

2.50

1. Using share price of 0.62 as at 12th November 2021

0.00

MAJOR SHAREHOLDERS

Nov-20

Jan-21

Mar-21

May-21

Jul-21

Sep-21

Nov-21

DIRECTORS AND MANAGEMENT

use

(+100 YEARS IN PRECIOUS DEVELOPMENT PROJECTS)

ALKANE RESOURCES (ASX:ALK)

9.6%

ersonal

MARK CONNELLY

NON-EXEC CHAIRMAN

RICHARD HILL

CFO

BOARD AND EXECUTIVES

6.2%

DAVE REEVES

MANAGING DIRECTOR

PAUL BRENNAN

BD & PROJECTS

ANALYST COVERAGE

Steuart McIntyre

KEITH COUGHLAN

NON-EXEC DIRECTOR

DON RUSSELL

GM WARRAWOONA

Paul Howard

JOHN CIGANEK

NON-EXEC DIRECTOR

STEVE SHEPPARD

REGIONAL GEOLOGY

Jon Bishop

PAGE 4

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Calidus Resources Limited published this content on 17 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2021 03:16:07 UTC.