ASX Announcement

4 April 2022

For personal use only

Paul Mulder

Lee Bowers

Managing Director

FiveMark Partners

Phone +61 (0)7 3157 4400

Mobile: +61 407 421 998

info@mayurresources.com

lee.bowers@fivemark.com.au

ABOUT MAYUR RESOURCES

Investor Presenta�on - Spin Out of Ortus Resources including the Orokolo Bay Iron & Industrial Sands Project

Mayur Resources Limited (ASX:MRL) is pleased to release the atached Investor Presenta�on rela�ng to the proposed spin out of its subsidiary Mayur Iron, into a new company called Ortus Resources Limited.

Ortus Resources is to hold the flagship, construc�on ready, Orokolo Bay Iron and Industrial Sands project in Papua New Guinea.

If successful, funding from the Spin Out and lis�ng of Ortus Resources on the ASX, will be u�lised to construct and operate the Orokolo Bay project with first product shipment planned for H1 2023.

Following in-principle support for the spin out from the Board of Mayur Resources, the Company is now working through the necessary regulatory and approval requirements and subject to Shareholder approval, have finalised in principle the appointment of advisors to assist with the spin out process.

This announcement was authorised by Mr Paul Mulder, Managing Director of Mayur Resources Limited.

For more informa�on or photos:

Mayur Resources is focused on the development of natural resources in Papua New Guinea. Our diversified asset por�olio spans iron sands, lime and cement, batery minerals and renewable power genera�on. Mayur also holds a 43% interest in copper gold explorer/developer Adyton Resources, a company listed on the TSX-V (TSXV:ADY).

Mayur's strategy is to serve PNG and the wider Asia Pacific region's path to decarbonisa�on by developing mineral projects that deliver higher quality, lower cost, and net zero inputs for the mining and construc�on industries, as well as construc�ng a renewable energy por�olio of solar, wind, geothermal, carbon mi�ga�on, and batery storage.

Mayur is commited to engaging with host communi�es throughout the lifecycle of its projects, as well as incorpora�ng interna�onally recognised Environmental, Social and Governance (ESG) standards into its strategy and business prac�ces.

Level 7, 300 Adelaide Street

Brisbane Queensland 4000

Phone +61 (0)7 3157 4400

Mayur Resources Limited | ARBN 619 770 277 | ASX: MRL

mayurresources.com

Developing a Low Cost, Net Zero carbon Iron Ore & Industrial Sands business

April 2022

Investor Presentation

Not for distribution in the United States

Disclaimer

Important notice and disclaimer

This presentation (Document) has been prepared by Mayur Resources Limited (Mayur Resources) in relation to Mayur's wholly owned subsidiary, MR Iron PNG Pte. Ltd. Mayur Iron and together with Mayur Resources, Mayur). This Document contains summary information about Mayur as at the date of this Document. The information in this presentation is general information and does not purport to be complete. [This Document should be read in conjunction with Mayur Resources' other periodic and continuous disclosure announcements lodged with the Australian Stock Exchange, which are available atwww.asx.com.au

Not an offer or financial product advice

This Document is for information purposes only and is not a prospectus, product disclosure statement or other disclosure document for the purposes of Chapter 6D or Part 7.9 of the Corporations Act 2001 (Cth) (Corporations Act) or other offer document under Australian law or the law of any other jurisdiction. This Document is not and should not be considered, and does not constitute or purport to constitute an offer or invitation or solicitation or recommendation to subscribe for or purchase any securities or financial product issued by Mayur, nor does it constitute financial product or investment advice (or taxation or legal advice). This Document does not constitute an advertisement for an offer or proposed offer of securities. Any offer to acquire securities will be documented in a prospectus for the purposes of Part 6D.2 of the Corporations Act and lodged with the Australian Securities & Investments Commission.

Neither this Document nor anything contained in it will form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in, or refrain from engaging in, any transaction nor is it intended to be used as the basis for making an investment decision.

An investor must not act on the basis of any matter contained in this presentation but must make its own assessment of Mayur and conduct its own investigation and analysis.

Acknowledgements and representations and warranties

This Document is being provided to you on the basis that you are, and you represent and warrant that:

  • if you are in Australia, you are a person who is a "wholesale client" within the meaning of section 761G of the Corporations Act who is also a professional investor or sophisticated investor (as those terms are defined in sections 708(8) and 708(11) of the Corporations Act);

  • you are not in the United States and you are not a U.S. Person (as defined in the US Securities Act of 1933) and you are not acting for the account or benefit of any U.S. Person, and acknowledge that Mayur securities have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state of the United States and will not be offered in the United States; and

  • if you are outside Australia or the United States, you are an institutional or professional investor to whom an invitation or offer to subscribe for can be made and any issue of such securities is permitted by the laws of the jurisdiction in which you are situated without the need for any registration, lodgement or other formality.

If you cannot make the above representations and warranties, you are not entitled to read this Document or attend this presentation. You must notify Mayur immediately, promptly return this Document and destroy or delete all copies, whether held in electronic or printed form or otherwise, without retaining any copies.

By receiving this Document or attending this presentation you acknowledge and agree that you understand the contents of this notice and that you agree to abide by its terms and conditions.

Mayur is relying on you complying with this important notice and disclaimer and on the truth and accuracy of the representations, warranties, undertakings and acknowledgements given by you.

By attending or receiving this presentation you further agree, irrevocably and unconditionally, to submit to the non-exclusive jurisdiction of the courts of New South Wales, in respect of any disputes, actions, suits or proceedings arising out of, or relating to, this presentation.

Disclaimer (cont.)

Confidential, no further distribution

The information contained in this Document is confidential and is only being made available on a confidential basis. Recipients must establish and maintain effective security measures to safeguard access to or use of the information contained in this Document and any other confidential information made available to the recipient. The information contained in this Document and any other confidential information must be held in complete confidence and must not be disclosed, copied, published, reproduced or distributed in whole or in part at any time to any person without the prior written consent of Mayur Resources and by accepting the delivery or making to it of this Document, the recipient agrees not to do so and to return any written copy of this Document (and any other confidential information made available to the recipient) to Mayur Resources at the request of Mayur Resources. If you are not the intended recipient of this Documentation, please notify Mayur immediately and destroy all copies of this Document, whether held in electronic or printed form or otherwise.

The distribution of this Document may be restricted by law in certain other countries. Neither this Document nor any copy or portion of it may be sent or taken, transmitted or distributed, directly or indirectly, into any other jurisdiction where to do so would be unlawful. No liability

Mayur Resources has prepared this Document based on information available to it to date. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this Document. To the maximum extent permitted by law, none of Mayur Resources, Mayur Iron or any of their respective related entities, directors, employees, officers, professional advisers or agents, the Lead Manager nor any independent third party or other person accepts any responsibility or liability, including, without limitation, any liability arising from fault, negligence or omission on the part of any person (including but not limited to Mayur Resources, Mayur Iron or any of their respective related entities, directors, employees, agents or advisers), for any loss or damage (whether direct or indirect) arising from the use of this Document or its contents or otherwise arising in connection with it. The information contained in this Document is subject to change without notice and Mayur may, in its absolute discretion, but without being under any obligation to do so, update or supplement the information.

This information has been prepared by Mayur Resources without taking account of any person's investment objectives, financial situation or particular needs and because of that, you should, before acting on this information, consider the appropriateness of the information having regard to your own investment objectives, financial situation and needs. All potential investors receiving this Document should make their own enquiries, No person is authorised to give information or make any representation that an offering will occur. investigations, independent analysis and judgment about the investment opportunities and the data/information stated or contained in this Document and consult an accountant, stockbroker, lawyer, qualified financial adviser or other professional or investment adviser before making any decision in relation to Mayur or the Securities.

Financial performance

This Document contains certain "forward-looking statements" (including forecasts, estimates and projections). All statements, other than statements of historical fact, that address activities, events or developments that Mayur believes, expects or anticipates will or may occur in the future, including without limitation those regarding Mayur's financial position, business strategy, plans and objectives of management for future operations. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", and events or results which "may", "will", "can", "should", "could", or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current internal projections, expectations or beliefs of Mayur based on information currently available to Mayur and are subject to a number of risks (both known and unknown), uncertainties and other important factors that may cause the actual results, performance or achievements of Mayur to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on the numerous assumptions regarding Mayur's present and future business strategies and the environment in which Mayur will operate and must be read together with those assumptions. These forward-looking statements speak only as at the date of this Document. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of Mayur. No assurance can be given as to the accuracy or likelihood of fulfilment of any forward-looking statements, events or results or that future events will occur, that projections will be achieved, or that assumptions are correct. The forecast financial performance of Mayur is not guaranteed. Past performance is not a reliable indication of future performance, and you are cautioned not to place undue reliance on these forward-looking statements, which are based on the current views of Mayur on future events. Mayur Resources, Mayur Iron and their respective affiliates, advisers and representatives expressly disclaim any obligation or undertaking to disseminate any updates or revisions, except as required by law, to any forward-looking statements contained in this Document to reflect any change in Mayur's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Neither Mayur Resources, Mayur Iron, their respective affiliates, nor any of their respective related entities, directors, employees, agents or advisers, nor any independent third party represents or warrants to any recipient that any forward-looking statements will be achieved or will prove to be correct. Actual results could vary materially from any forward-looking statements. Similarly, no representation or warranty is made that the assumptions on which any forward-looking statements are based are reasonable.

Disclaimer

Bell Potter Securities Limited (ABN 25 006 390 772 / Licence No. 243480) and its affiliates and related entities, and the directors, employees, officers and advisers of each of them (Bell Potter Group) has not independently verified the information in the Document and accepts no responsibility or liability (whether direct or indirect or arising in negligence or otherwise) for the contents of this Document and makes no warranty or representation as to the accuracy of the information in this Document and to the maximum extent permitted by law, excludes and disclaims all liability for any losses incurred as the result of any information being inaccurate or incomplete. Any information or representation made in this Document, may not be relied on as being authorised by Bell Potter Group.

You acknowledge that neither you nor Bell Potter Group intends that Bell Potter Securities Limited or any member of the Bell Potter Group act or be responsible as a fiduciary to you, your officers, employees, consultants, agents, security holders, creditors or any other person. Each recipient and Bell Potter Securities Limited (on behalf of each other member of the Bell Potter Group), by accepting and providing this Document respectively, expressly disclaims any fiduciary relationship and the recipient agrees that it is responsible for making its own independent judgments with respect to any matters contained in the Document..

Background & Value Proposition

  • Mayur Resources Ltd (ASX:MRL) is a listed diversified mining company with a suite of construction-ready assets in PNG

  • MRL is pursuing a spin-off strategy for its subsidiary Mayur Iron to unlock value for shareholders and new investors

  • Mayur Iron to be re-branded as Ortus Resources

  • Ortus Resources to hold multi commodity portfolio including the construction ready, Orokolo Bay Iron & Industrial Sands Project

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Mayur Resources Ltd. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 00:53:01 UTC.