Calidus Resources : to present at the Australian Gold Conference

onlyABOUT CALIDUS RESOURCES Ca idus Resources is an ASX listed gold compa y that is developing the 1.7Moz 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 Keith Coughlan

NON-EXECUTIVE DIRECTOR

Mr John Ciganek

NON-EXECUTIVE DIRECTOR

Ms Kate George personalNON-EXECUTIVEDIRECTOR

Mr P ul Brennan

PROJECT DEVELOPMENT

Mr Richard Hill

CHIEF FINANCIAL OFFICER

Ms Julia Beckett

COMPANY SECRETARY

calidus.com.au

ForASX : CAI

[e-mail]

Suite 12, 11 Ventnor Ave

West Perth WA 6005

AUSTRALIA

10 February 2022

Calidus to present at the

Australian Gold Conference

Calidus Resources Limited (ASX: CAI) advised that Managing Director, Mr Dave Reeves, will be presenting at the virtual Australian Gold Conference today at 11:00am AWST / 2:30pm AEDT.

If you would like to attend this virtual event you can register online via the following website:

Register Now - GOLD EVENTS

The presentation associated with this event 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

[e-mail]

WARRAWOONA GOLD PROJECT
onlyAUSTRALIA'S NEXT GOLD PRODUCER
TARGETING 130,000 OZ PA| VIRTUAL GOLD CONFERENCE FEB 2022	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. 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 (81% 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

Create additional shareholder value via lithium exploration

CORPORATE SUMMARY								$1.00
CAPITAL STRUCTURE									$0.75
SHARES ON ISSUE	400M		Share Price (A$)						$0.50
MARKET CAP1	$276M
CASH (31 December 2021)	$21M								$0.25
DEBT FACILITY (82.5M drawn)	$110M	5.00							$0.00
onlyLISTED INVESTMENTS (31 Dec 2021)	$0.25M	Volume (m)
OPTIONS	9.9M	2.50
1. Using share price of 0.69 as at 4th February 2022
		0.00
MAJOR SHAREHOLDERS		Feb-21	Apr-21	Jun-21	Aug-21	Oct-21	Dec-21	Feb-22
		DIRECTORS AND MANAGEMENT
use						(+100 YEARS IN PRECIOUS DEVELOPMENT PROJECTS)

	ALKANE RESOURCES (ASX:ALK)	9.6%
ersonal			MARK CONNELLY	NON-EXEC CHAIRMAN		KATE GEORGE	NON-EXEC DIRECTOR
	BOARD AND EXECUTIVES	6.2%
				DAVE REEVES	MANAGING DIRECTOR		RICHARD HILL	CFO
	ANALYST COVERAGE
		Steuart McIntyre		KEITH COUGHLAN	NON-EXEC DIRECTOR		PAUL BRENNAN	BD & PROJECTS
		Paul Howard
			JOHN CIGANEK	NON-EXEC DIRECTOR		DON RUSSELL	GM WARRAWOONA
		Jon Bishop
PAGE 4