Horizon Minerals : Annual General Meeting Presentation

ersonal use only

ANNUAL GENERAL MEETING PRESENTATION

NOVEMBER 2021

DISCLAIMER AND IMPORTANT NOTICES

onlyNature of Document

This Presentation is provided on the basis that neither the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives or advisers, make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material it contains. Nothing contained in the Presentation is, or may be relied upon, as a promise, representation or warranty, whether as to the past or the future, and the Company hereby excludes all warranties that can be excluded by law.

The Presentation

The presentation contains 'forward-looking statements'. As set out in more detail on Slide 20, by their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future, and assumptions which may or may not prove to be correct (and may be

useb yond the Company's ability to control or predict), any (or all) of which may cause the actual results or performance of the Company to be materially different from the results or performance expressed or implied by such forward-looking statements. No representation is made that any forward-looking statement will come to pass, that any forecast result will be achieved, or that any assumption on which a forward-looking statement is based is reasonable. Forward-looking statements are made as at the date of this Presentation, and the Company disclaims any obligation or undertaking to release any update of, or revision to, any forward-looking statement contained in this Presentation. contains information relating to Mineral Resources estimates and Ore Reserves estimates. All persons reviewing this Presentation should refer to the JORC resource statements and competent person confirmations in the Appendix to this Presentation (slides 18 and 19).

Professional Advice recommended

ersonalA persons reviewing this Presentation should consider seeking appropriate professional advice before making any investment

decision. Neither the provision of the Presentation nor any information contained in the Presentation or subsequently communicated to any person in connection with the Presentation is, or should be taken as, constituting the giving of investment

dvice to any person.

Forward Looking and Cautionary Statement

As noted above, some statements in this Presentation regarding estimates or future events are forward looking statements. They include indications of, and guidance on, future earnings, cash flow, costs and financial performance. Forward looking statements include, but are not limited to, statements preceded by words such as "planned", "expected", "projected", "estimated", "may", "scheduled", "intends", "anticipates", "believes", "potential", "could", "nominal", "conceptual" and similar

expressions. Forward looking statements, opinions and estimates included in this Presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements are provided as a general guide only and should not be relied on as a guarantee of future performance. Forward looking statements may be affected by a range of variables that could cause actual results to differ from estimated results, and may cause the Company's actual performance and financial results in future periods to materially differ from any projections of future performance or results expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to liabilities inherent in mine development and production, geological, mining and processing technical problems, the inability to obtain any additional mine licenses, permits and other regulatory approvals required in connection with mining and third party processing operations, competition for among other things, capital, acquisition of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value of acquisitions, changes in commodity prices and exchange rate, currency and interest fluctuations, various events which could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions, the demand for and availability of transportation services, the ability to secure adequate financing and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward looking statements will prove to be correct.

Statements regarding plans with respect to the Company's mineral properties may contain forward looking statements in relation to future matters that can only be made where the Company has a reasonable basis for making those statements.

The forward looking statements in this Presentation are based on current expectations, estimates, forecasts and projections about the Company and the industry in which it operates. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward looking statements. The past performance of the Company is no guarantee of future performance. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this Presentation reflect views held only as at the date of this Presentation.

None of Horizon Minerals Limited or its directors, officers, employees, agents or contractors makes any representation or warranty (either expressed or implied) as to the accuracy or likelihood of fulfilment of any future looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law. The Company believes that it has a reasonable basis for making the forward looking statements in the Presentation, including with respect to any production targets and financial estimates, based on the information contained in this and previous ASX announcements.

2

ABOUT HORIZON

MINERALS EXPLORER IN THE HEART OF THE GOLDFIELDS

only	+1.13Moz 1		1,100 sq km
use
Mineral Resources		Large, strategic WA
			Goldfields landholding
+A$15M		50,000m
ersonal
Cash/investments to		CY21 drilling program
support growth strategy		continues with up to four
			rigs on site 2
1.	As announced to the ASX on 3 November 2021, see also tables and confirmations on slides 18 and 19	3
2.	As announced to the ASX on 20 October 2021

Horizon Minerals is an explorer with highly strategic projects in the Kalgoorlie and Coolgardie regions and exposure to multiple commodities within Australia

ABOUT HORIZON

CORPORATE SNAPSHOT

Share Price History
useonlyShareholder Breakdown
ersonal	1. Price data as at 25 November 2021

2. Full biographies contained in appendices

Capital Structure 1

Shares	M	567.9
Unlisted Options	M	24.0
Share price	A$	0.14
Market capitalisation	A$M	80.1
Cash position + listed investments	A$M	15.1
Debt	A$M	Nil
Enterprise value	A$M	~65.0

Board and Management 2

Ashok Parekh	Non-Executive Chair
Peter Bilbe	Non-Executive Director
Jon Price	Managing Director
Grant Haywood	Chief Operating Officer
Julian Tambyrajah	Chief Financial Officer and Co Sec
David O'Farrell	Exploration Manager

4

EXPLORATION, TRIAL MINING, CASH GENERATION, ACQUISITIONS AND DIVESTMENTS

2021 IN REVIEW

• Completed infill drilling program on seven core projects for updated resources and ore reserve generation

➢ 1.13Moz in Mineral Resource with 76% in M&I categories 1

• Commenced largest ever exploration and growth drilling program across the
only1,100km2 portfolio
use	➢ Excellent drilling results and new discoveries below cover
• Completed trial mining and toll milling to de-risk Boorara
	➢ Generated $4m in cash and improved resource quality
• Acquired a number of high grade assets within close proximity
ersonal	➢ Kalpini, Cannon, Penny's Find, Glandore, Cowarna and Phoenix
• Divested non-core assets for cash and shares and put into quality companies
	➢ CYM, RDT, MHK, RWD, KWR totalling ~$10M in value creation 1
• Advanced Richmond vanadium and retained Nimbus silver
• Managed through COVID, labour tightness and assay delays
	1.	As announced to the ASX on 3 November 2021, see also tables and confirmations on slides 18,19	5
	2.	As announced to the ASX on 27 October 2021