Cyprium Metals : ASX Investor Copper Day Presentation

BUILDING AN AUSTRALIAN COPPER COMPANY

onlyuseASX Investor Copper Day

ersonalNovember 2021

ASX: CYM

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Important Notices and Disclaimer

IMPORTANT: You must read the following before continuing.

This investor presentation ("Presentation") has been prepared by Cyprium Metal s Limited (ABN 48 002 678 640) ("Cyprium" or "Company").

onlySummary information

By reviewing or retaining these materials, or attending or participating in this Presentation, you acknowledge and represent that you have read, understood and accepted the terms of this "Important Notices and Disclaimer". This Presentation contains summary information about Cyprium, and its activities current only at the date of this Presentation. This Presentation is for information purposes only. The information in the Presentation is of a general nature only and does not purport to be complete. This Presentation should be read in conjunction with Cyprium's most recent financial report and other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange ("ASX") which are available at www.asx.com.auand also available on Cyprium's website at www.cypriummetals.com. Certain information in this Presentation has been sourced from Metals X Limited, the former owner of Paterson and their representatives or associates. While steps have been taken to review that information, no representation or warranty, expressed or implied, is made as to its fairness, correctness, completeness or accuracy. Certain information in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Cyprium

or its representatives have independently verified any such information sourced from third parties or industry or general publications.

N t an offer

This Presentation is for information purposes and is not, and does not purport to be, a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction (and will not be lodged with the Australian Securities and Investments Commission ("ASIC") or any foreign regulator). The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this Presentation nor anything in it shall form any part of any contract for the acquisition of Cyprium shares. The distribution of this Presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

useNot investment or financial product advice

This Presentation does not constitute financial product, investment, legal, taxation, accounting or other advice and is not intended to be used or relied upon as the basis for making an investment decision. This Presentation is not a recommendation by Cyprium or its advisers to acquire Cyprium shares or New Shares. This Presentation has been prepared without taking into account the objectives, financial situation or needs of individuals.

Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek financial, legal and taxation advice appropriate to their jurisdiction. Cyprium is not licensed to provide financial product advice in respect of Cyprium shares.

Effect of rounding

A n mber of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation.

Past performance

Past performance information, including past share price performance of Cyprium and pro forma financial information, given in this Presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of Cyprium's (or anyone else's)

views on Cyprium's future financial performance or condition. Past performance of Cyprium cannot be relied upon as an indicator of (and provides no guidance as to) the future performance of Cyprium. Nothing contained in this Presentation nor any information made ersonalavai able to you is, or shall be relied upon as a promise, representation, warranty or guarantee, whether as to the past, present or future.

Future performance

This Presentation contains certain "forward-looking statements" and comments about future events, including statements regarding Cyprium's intent, belief or current expectations with respect to the Company's business and operations, market conditions, results of operations and financial condition, and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan", "estimate", "will", "believe", "target" and other similar expressions are intended to identify forward- looking statements. Indications of, and guidance outlook on, future earnings or financial position or performance are also forward-looking statements and include statements in this Presentation regarding the conduct and the future performance of Cyprium.

Forward-looking statements are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumption on which these statements are based. These statements may assume the success of Cyprium's business strategies. The success of any of those strategies will be realised in the period for which the forward-looking statement may have been prepared or otherwise. Recipients of this Presentation are cautioned not to place undue reliance on forward-looking statements, particularly in light of the current economic climate and the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic, and except as required by law or regulation, none of Cyprium, its representatives or advisers assumes any obligation to update these forward-looking statements. No representation or warranty, express or implied, is made as to the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, returns or statements in relation to future matters contained in this Presentation. The forward-looking statements are based on information available to Cyprium as at the date of this Presentation. Except as required by law or regulation (including the ASX Listing Rules), none of Cyprium, its representatives or advisers undertakes any obligation to provide any additional or updated information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements.

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Cyprium Investment Overview

Cyprium Metals - Building an Australian Copper Company

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ersonal1

2

ASX listed, West Australian focused copper developer and explorer

Near term copper producer - heap leach operation targeting late 2022 commissioning

Portfolio of development opportunities with over +1.2Mt1 of contained copper in Mineral Resources

Material exploration upside with large landholding in the Paterson Province & farm-in with IGO Ltd

Highly credentialled Board and Management team focussed on creating shareholder value

Multi-asset strategy set to capitalise on global electrification thematic

Well funded to execute strategy with A$40M2 of cash

Cyprium ASX announcement: 17 November 2021 - Updated Nifty Copper Mineral Resource Estimate, 10 February 2021 - Transformational Acquisition of Highly Attractive Copper Portfolio & 29 September 2020- Hollandaire Copper-Gold Mineral Resources Estimate

Cyprium ASX Announcement 29 October 2021- Quarterly Activities and Cashflow Report

Unvested Director and employee performance rights issued at a nil exercise price and subject to performance-basedvesting conditions. Unlisted Convertible Notes at 4% per annum, maturing 30 March 2025.

Table excludes the impact of any shares to be issued, subject to the conversion of the Metals X convertible notes.

Corporate Overview

Focused on building a mid-tier Australian copper mining business

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•	Cyprium Metals (ASX:CYM) is an Australian copper developer and explorer
• Owns a portfolio of near-term development projects focussed in Western Australia
• Highly credentialed board and management team
	− Led by experienced mining executives Barry Cahill and Gary Comb
• Focussed on the near-term development of Nifty open pit heap leach copper strategy to
	produce LME grade A copper cathode

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	Capital Structure
		Securities	A$M
	Ordinary shares	564,819,214
	Performance rights 1	57,000,000
	Unlisted options (ex $0.3141 cents, expiring 30 March 2022)	20,274,755
	Un isted options (ex $0.30 cents, expiring 11 Dec 2022)	6,000,000
ersonal	20,274,755
	Unlisted options (ex $0.3551 cents, expiring 30 March 2023)
	Ordinary shares	564,819,214
	Market Capitalisation (A$0.20)		A$113.0M
	Co vertible notes issued to Metals X 2,3		A$36.0M
	Cash (30 September 2021)		A$40.0M
	Enterprise Value		A$109.0M

Notes 1 2 3

Share Price Performance

	$0.40	40
	$0.35	35
	$0.30	30
PriceShare(A$/Share)	$0.25	25	Volume(m)
$0.20	20
	$0.15	15
	$0.10	10
	$0.05	5
	$0.00		0

Oct-20	Jan-21		Apr-21	Jul-21	Oct-21
			Volume		Share Price	4

Board and Management

A strong management team with experience in technically assessing, financing, building and operating successful copper mines

only

Gary Comb

Barry Cahill

Nicholas Rowley

Wayne Apted

Peter van Luyt

Mike Efthymiou

Terry Burns

Non-Executive Chairman

Executive Director

Non-Executive Director

Chief Financial Officer and

Chief Geologist

Chief Metallurgist

Project Development

Company Secretary

Manager

Mr Comb is an engineer with over

Mr Cahill is a mining engineer with

Mr Rowley is an experienced

Mr Apted is a chartered

Mr van Luyt is a geologist with 30

Mr Efthymiou is a metallurgical

Mr Burns is an experienced

30

years'

experience

in

the

over 30 years' experience in

corporate executive with a strong

accountant with over 25 years'

years'

experience

in

mining,

engineer with 50 years' global

economic geologist with additional

A stralian mining industry, with a

exploration,

operational

mining

financial background with over 15

experience in the mining industry.

development

and

exploration

experience

in

providing

qualifications in mineral economics

usestrong track record in successfully

and management. In particular his

years' specialising

in corporate

He was the Chief Financial Officer

geology. He commenced his career

sophisticated

mineral

processing

and mine engineering and >30

commissioning and operating base

experience covers management of

advisory,

M&A

transactions

and

of Finders Resources Limited until

as a mine geologist working in gold

and project development services

years of post graduate experience.

metal mines.

project

development

and

equities

markets. He

has advised

its takeover in 2018.

mines.

in the mining industry. Since 2000

Mr Burns has held senior technical

construction from

exploration

on the

equity

financings

of

he has been the Managing Director

He

was

Chairman of

Finders

Mr Apted has previously worked in

Since 2004 he has been a contract

and management

roles

with

drilling

through

project

funding,

numerous

ASX

and

TSX listed

of

a

specialist Metallurgical

Resources Limited from 2013 until

senior

finance

roles

for

Masan

and

consultant

geologist

several ASX-listed

companies in

commissioning and development.

companies

predominantly in

the

Process

and

Project

Consulting

its t keover in 2018.

Resources

Limited, Glencore plc,

specialising

in

the

resource

both the precious and base metals

mining and resources sector.

Services Company to develop and

He was the Managing Director of

Xstrata

plc,

Normandy

Mining

development

of

and

exploration

industries

including

WMC

Mr

Comb

was

previously

the

implement innovative technologies

Finders

Resources Limited

from

Mr Rowley currently serves as an

Limited and Aurora Gold Limited,

for base metals and gold projects

Resources,

Finders

Resources,

and process flowsheet solutions.

Ma

aging Director of Jabiru Metals

2013 until its takeover in 2018.

executive at Galaxy Resources Ltd

both

in

Australia

and

global

in Australia,

Papua

New

Guinea

Mount Isa Mines and

Normandy

Limited

and

the

CEO

of

BGC

and as a Non-Executive Director of

locations.

and Canada.

Mr

Efthymiou

has

previously

Metals.

C ntracting Pty Ltd.

Mr Cahill

has

previously

been

Titan Minerals and Oro X Mining

worked

in senior

roles at world

ersonal

executive director of a number of

Mr van Luyt holds a Bachelor of

Additionally,

Mr

Burns

has

Corp.

class base metals operations and

public

companies

including

Science degree with honours from

operated a successful independent

projects

at BHP

Group Limited,

operations

director

at

Perilya

the University of

Sydney,

a Post-

consultancy

focusing

on

WMC Resources Ltd MIM Holdings

Limited and Managing Director of

Graduate

Certificate

in

geometallurgical

consulting,

Ltd,

Freeport-McMoRan

Australian

Mines

Limited

and

Geostatistics

from

Edith

Cowan

technical

due

diligence,

Incorporated

and

Zambia

Norseman Gold Plc.

University and is a member of the

independent

technical

reporting

Consolidated Copper Mines Ltd.

Australian

Institute

of

and feasibility studies.

Geoscientists.