COMPANY AT A GLANCE

ASX:CVV

Exploration Licences Western Australia 11 tenements covering 760km2

Project Focus Caravel Copper Project near Wongan Hills, Western Australia

Board Wayne Trumble – Chairman Alasdair Cooke – Executive Director Alexander Sundich – Non-Executive Director

caravelminerals.com.au

PRE-FEASIBILITY PROJECT FACT SHEET

COPPER PROJECT Caravel Minerals is an ASX-listed copper exploration and development company focussed on the Caravel Copper Project, located 160km from Perth in Western Australia’s well-serviced Wheatbelt region. Project pre-feasibility studies now underway aim to demonstrate the project’s potential to be a large-scale, low cost and long-life copper producer.

WHAT IS A PRE-FEASIBILITY STUDY PHASE?Pre-feasibility studies are undertaken to determine, analyse and design a project.

This often involves further exploration to define resources, metallurgical stud-ies, engineering studies to define the processing equipment and related infrastructure required and environ-mental studies to identify relevant factors.

A PFS is usually completed before a Definitive Feasibility Study or DFS. Several updates to a PFS can be made before a DFS starts.

Source: Australasian Institute of Mining and Metallurgy (AusIMM)

CARAVEL MINERALS COPPER PROJECTA scoping study completed in 2016 proposed project parameters for the Caravel Minerals Copper Project (previously termed the ‘Calingiri Proj-ect’) including:

• A potential 21-year project life

• Open-cut mining footprint

• Processing plant, tailings stor-age, water storage, maintenance workshops, concentrate stor-age, borefield and accommoda-tion village/s

• Waste rock stockpiles

• Mine dewatering

• Upgrade to power supply infra-structure

• Transport and export of copper concentrate to an existing WA port

The 2016 scoping study is being up-dated to include recent work on min-ing, metallurgy, processing and infra-structure.

It is estimated that a further two years of feasibility work and permit-ting followed by around two years of

construction would take place before starting operations.

Importantly, a PFS will provide results needed for funding to undertake fur-ther feasibility studies such as DFS. Mining projects also require power, water, support infrastructure/ser-vices and access to an export port. The PFS study team is progressing studies and building results into the project model.

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"Calingiri

Wongan Hills

B i n d iB i n d i

D a s h e rD a s h e r

O p i eO p i e

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!

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W E S T E R NA U S T R A L I A

Geraldton

Fremantle

Bunbury

PROJECTAREA

Caravel Copper Project Location

State Road

Caravel Tenements

5 km

FEBRUARY 2019

Suite 1, 245 Churchill Avenue, Subiaco WA 6008 T +61 8 9426 6400 E mail@caravelminerals.com.au

caravelminerals.com.au

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PART OF THE COMMUNITYWith a team that has developed projects in WA and around the world, Caravel Minerals understands the importance of engaging stakeholders in a mean-ingful way to create benefits and manage develop-ment in partnership.

Caravel’s pre-feasibility work seeks to ensure a re-sponsibly planned mining project that strengthens the fabric and future of the region through the es-tablishment of a long-term workforce, construction and operations supplier opportunities, an uplift in regional economic activity and social growth of ru-ral communities.

We value the opportunity to meet and discuss the project with the community.

FAST FACTSThe Caravel Copper Project is now the largest copper

resource in Western Australia.

Copper plays an integral part in renewable energy technologies that require large amounts of copper to

generate and transmit renewable energy.

Copper demand is increasing due to the emerging electronic vehicle market. Electric vehicles contain

around three times more copper than traditional vehicles.

Copper also continues to be used in our everyday lives from household items, electronics and advanced medical

technology to renewable energy.

Cat-scan, MRI and x-ray machines are all made possible by copper.

Copper ranks as the third-most-consumed industrial metal in the world, after iron and aluminum.

Copper is an excellent conductor, second only to silver.

Present day global copper demand is around 36 million tonnes, worth around A$300 billion.

Modern cars contain about 25kg of copper. Electric cars contain three times as much, 75kg.

About three-quarters of that copper goes to make electrical wires, telecommunication cables, washing

machines and electronics.

MINING PROJECT DEVELOPMENT LIFECYCLE

Scoping Study Pre-feasibility Study Feasibility Study

Contract Strategy Project Controls Schedule & Cost

Management Operational Readiness

Extraction & Processing

Asset Maintenance Support Services

Shut Down Decommissioning

Reclamation Post-Closure

Exploration Feasibility & planning Construction Mine operation Mine closure

& reclamation