Metal Bank : Managing Director’s Presentation to Shareholders

ADVANCING GOLD EXPLORATION OPPORTUNITIES - 2019

2 5 N OV E M B E R 2 0 1 9

ASX: MBK

Disclaimer

Purpose of this document

This presentation has been prepared by Metal Bank Limited ("MBK") for general information purposes only using the information available to MBK at the time of publication.

No reliance

The information contained in this presentation is not investment, tax, accounting, legal or financial product advice and is not intended to be used as the basis for making any investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person.

Exclusion of representations or warranties

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of MBK's directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Before making any investment decision, you should consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. You should seek professional advice from your accountant, financial adviser, stock broker, lawyer or other professional adviser before making any investment decision.

Forward looking information

Certain statements in this presentation constitute "forward looking information" that is based on expectations, estimates and projections as of the date of this presentation. These statements are subject to risks and uncertainties. The forward looking information should not be relied upon as representing the view of MBK after the date of this presentation. MBK has attempted to identify important factors that could cause actual actions, events or results to differ materially from those current expectations described in the forward looking information. However, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and that could cause actual actions, events or results to differ materially from current expectations. There can be no assurance that the forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place undue reliance on the forward looking information. These factors are not intended to represent a complete list of the factors that could affect the forward looking information.

Events after the date of this document

Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. MBK is not responsible for updating nor undertakes to update this presentation.

Competent Person Statement

The information in this document that relates to Exploration Results is based on information compiled or reviewed by Mr Tony Schreck, who is a Member of The Australasian Institute of Geoscientists. Mr Schreck is an employee of the Company. Mr Schreck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Schreck consents to the inclusion in the report of the matters based on his information in the form and context in which it applies.

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Southeast Queensland

Qld's next big gold discoveries

• 18Moz gold province hosting two of Qld's largest operating gold mines - Mt Rawdon and Cracow
• Overlooked - Historical goldfields outside of existing operating mines missed out on serious modern gold exploration.
• Metal Bank recognised this as an opportunity in 2009 leading to discovery success on three historical goldfields.

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Corporate Overview

Metal Bank Limited

ASX: MBK						12-month share chart
Shares	881.6M						0.014
							0.012
Share price @ 22 Nov	$0.011						0.010
					0.008
Cash@ 30 Sept	$1.3M
Market cap	$10M
2018		2019	22 Nov

Top 20 shareholders	56%
Directors / Management	22%	Skin in the game

Projects are 100% MBK - no debt or encumbrances

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Metal Bank Limited

Successful Track Records

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Discovery Driven Growth

Strategy centred on historical goldfields

• • 8 Mile Project (Perry Goldfield) - Bulk tonnage gold targets defined near Mt Rawdon gold mine (2Moz).
     Two recent discoveries
• Triumph Project (Norton Goldfield) - Multiple shallow high-grade gold zones discovered

pointing to deeper bulk tonnage targets

 Eidsvold Project (Eidsvold Goldfield) - First Mover opportunity to test 'undercover' large scale targets adjacent to a 100,000oz historical goldfield

18Moz Gold Province

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8 Mile Project

Opportunities Recognised Early

What caught our eye?

Magnetite destruction /

hydrothermal alteration Many intrusion-related gold systems in Qld are associated with magnetic lows related to magnetite destruction

Perry goldfield - overlooked by modern exploration and so close to Mt Rawdon!

2km

Reprocessing old geophysical data together with experience to recognise likely areas of alteration and gold mineralisation

	Mt Rawdon gold mine	RTP magnetics

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8 Mile Project

Large Gold System Emerging

Initial drilling Success - Identifies

extensive gold system

System currently defined over >3.6km -

Only drilled on two sections 2km apart

Perry Prospect

36m @ 1.2g/t Au from 36m

12m @ 2.1g/t Au from 4m

Flori's Find Prospect

16m @ 1.9g/t Au from 69m

22m @ 1.1g/t Au from 8m

4m @ 5.5g/t Au from 76m

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8 Mile Project - Perry Prospect

Bulk tonnage style gold system

36m @ 1.2g/t Au from 36m

2m @ 14.8g/t Au

Potential for higher grades

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8 Mile Project

Queensland's next big gold story?

• From 'opportunity' to drilled discovery in 12 months
• Excellent bulk tonnage style gold potential highlighted by initial drilling

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Triumph Project

Modern Discovery on historical goldfield

Centred over the historical

Norton goldfield

• 'Big system thinking' has led to multiple near-surfacehigh-grade gold discoveries
• 6 drill discoveries over 3yrs

•	Bald Hill West	15m	@ 10.3g/t Au from 9m
•	Bald Hill East	30m	@ 0.5g/t Au from surface

• New Constitution 10m @ 26.9g/t Au from 51m

•	Big Hans	18m	@ 4.0g/t Au from surface
•	Super Hans	22m	@ 1.1g/t Au from 12m
•	Advance	3m @ 25g/t Au from 17m

• 3D modelling of metal / alteration zoning points to bulk tonnage mineralisation targets (<200m below surface)

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Triumph Project

Focus on bulk tonnage targets

Metal and alteration zoning defines four bulk tonnage targets

Priority bulk tonnage gold targets

Relatively shallow drilling to

date (ave. 60m)

Opportunity now to work down

into the systems

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Eidsvold Project

First Mover Opportunity

Eidsvold Goldfield - One of the largest historical goldfields in Queensland with no

modern gold mining operation…Why?

Eidsvold Goldfield Historical

Production - 100,000oz

average grade 33g/t Au

…Only a small part of the gold system is exposed:

the rest is concealed by cover sediments

• Large-scaletargets defined close to historical goldfield and concealed by cover sediments - Represents 'First Mover Opportunity'
• Exploring undercover using new geophysics data (magnetics and EM) combined with latest geochemical techniques

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Eidsvold Project

Seeing through cover - geochem / geophysics

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Eidsvold Project

Drill Ready

• Large-scalecoincident geophysics / geochemistry gold targets around one of Queensland's big overlooked goldfields
• Currently evaluating JV as an option to fund drilling on the project

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Metal Bank Limited

Discovery Driven Growth in SE Qld

1. South-EastQld has all the characteristics for the next big gold deposit in Qld to be uncovered
2. Metal Bank has created three exceptional gold opportunities around overlooked historical goldfields

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Looking Ahead

Project execution and new opportunities

• Positioned for Growth (organic and acquisition)
• A team solidly grounded in project execution and generation with access to a global network and project opportunities

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Metal Bank Limited

contact us

ASX Code: MBK

www.metalbank.com.au

Tony Schreck
Managing Director
[phone]
[e-mail]
		Looks like a fair amount of overtime
			may be called for here, Wilson
	"Go out and find me 100,000oz Au…..
	……….and then grow it to 10Moz Au"

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