Strategic Minerals : LCCM Copper Sulphide Potential 2023 Presentation

L E I G H C R E E K C O P P E R M I N E , S O U T H A U S T R A L I A

T H R EE P H A S E D D E V E L O P M E N T P L A N

MAY 2023

LEIGH CREEK COPPER MINE (LCCM) PROJECT - INTRODUCTION

• Strategic Minerals plc ("SML"), an AIM quoted company, acquired LCCM in 2018.
• 25,900 tonnes of Indicated JORC compliant copper.
• Three granted mining licenses covering Lorna Doone, Mount Coffin and Mountain of Light with JORC resources.
• Existing local offtake of all expected copper production, LME based pricing.
• Reactivating production of copper via heap leaching to produce a high-grade copper cement (concentrate).
• Existing plant provides ability to access early cash flow.
• Significant upside potential - reinvestment of cash flow to optimise remaining three deposits, develop regional targets and explore for copper sulphide host.

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LCCM - 3 STAGE PLAN USING OXIDE PRODUCTION FOR SULPHIDE EXPLORATION

• Represents an opportunity to lever off a small copper oxide project
• Allows self funding exploration for a larger copper sulphide host in the North Flinders Ranges.
• Developed a three stage strategy to;
• 1. recommence copper oxide production;
  2. access and expand regional copper oxide production; and
  3. self fund a large scale, exploration for a copper sulphide host(s) in the region.

Capital Cost ($)

Stage 3: "Step Out"

• Develop plan to mine Copper Sulphide Resource
• Acquire new tenements for exploration in under- explored region
• Product diversification to copper cathode (SXEW)

Stage 2: Expand and Develop

• Producing at LLD and Mount Coffin tenements
• Multiple 'oxide' sites to produce 500+t/month
• Drill to Identify Copper Sulphide Resource

Stage 1: Restart / Early Drill

• Recommission Plant (Complete)
• Recommence production (200+t/month)
• Confirmatory oxide drilling and initial sulphide exploration drilling

Time

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LCCM STAGE 1 - COPPER OXIDE MINING AND PROCESSING

Copper Oxide JORC Resource

Copper Production Process

PEPR Approval

Plant and Infrastructure

Existing Offtake Agreement

Attractive Investment Return

Rapid Payback Period

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LCCM STAGE 2 - REGIONAL HUB PORCESSING AND SULPHIDE EXPLORATION

• LCCM's tenements and regions, have a rich history of copper oxide outcrops and small scale mining has occurred.
• Small deposits in the Northern Flinders Ranges, generally, can be economically challenging.
• Economics require a centralised processing
  'hub' or a mobile processing plant.
• Kennecott cones provide an ideal flowsheet for mobile facilities.
• Cash flows being generated from Stage 1 help acquisition of additional copper oxide deposits or tolling of surrounding material.

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