February 2018

Value realisation through the recognition, exploration & discovery of high value mineral projects

• This presentation has been prepared by Cazaly Resources Limited (“Cazaly”). It contains forecasts and forward looking statements which are no guarantee of futureperformance and which involve certain risks. Actual results and future outcomes will in all likelihood differ from those outlined herein. The presentation should not beconstrued as an offer or invitation to subscribe for or purchase securities in Cazaly. Nor is it an inducement to make offer or an invitation with respect to said securities.

• Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similarexpressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources orreserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond thecontrol of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information andstatements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity ofmineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recoveryrates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion offeasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basisand on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks anduncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-lookingstatements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events orcircumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

• The Company has not fully completed feasibility studies on all of its projects. Accordingly, there is no certainty that such projects will be economically successful.Mineral resources that are not ore reserves do not have demonstrated economic viability.

• The information that relates to exploration targets, exploration results and drilling data of Cazaly operated projects is based on information compiled by Mr Clive Jonesand Mr Donald Horn who are Members of The Australasian Institute of Mining and Metallurgy and are employees of the Company. The information that relates to theMineral Resource Estimate at Parker Range has been authorized by Mr Trevor Stevenson who is a Fellow of the Australasian Institute of Mining and Metallurgy and aChartered Professional Geologist (FAusIMM CP). He is also a Member of MICA (MMICA) and a permanent employee of Runge Limited, an independent resourceconsultancy group. The information that relates to the Mineral Resource Estimate at Wiluna is taken from a report written for Agincourt Resources Ltd and is compliantwith the 2005 JORC code. The company confirms that it is not aware of any new information or data that materially affects the information included in the originalresource report and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevantmarket announcement continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findingsare presented have not been materially modified from the report. Mr Jones and Mr Horn confirm that the information in this presentation is an accuraterepresentation of the available data and studies for the Wiluna Nickel Cobalt Project.

• Mr Jones, Mr Horn and Mr Stevenson have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activitywhich they are undertaking to qualify as a Competent Persons as defined in the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves’. Mr Jones, Mr Horn and Mr Stevenson consent to the inclusion in their names in the matters based on their information in the form and context in which itappears.

Disclaimer and Important Information

Level 2, 38 Richardson Street, West Perth, Western Australia, 6005. PO Box 396, West Perth, Western Australia, 6872

Phone: +61 8 9322 6283 Fax: +61 8 9322 6398 email: admin@cazalyresources.com.au

ACN 101 049334 www.cazalyresources.com.au

To continually expose shareholders to quality, in-demand mineral assets to increase company value

Maintain a broad portfolio whilst focussing on key projects

Strong track record of project recognition, acquisition & discovery

Current focus on new age Battery Grade materials and Gold

Deep portfolio of other mineral assets including copper, iron ore and uranium

Tight share capital control

Mission

Fully Paid Shares 195.9M

Listed Options ($0.11, Aug ‘18) 18.9M

Unlisted Options ($0.06 – 0.216) 19.1M

Market Cap @ $0.04 ~$8M

OUR PROJECTS

Bungonia (Cobalt, NSW)

Numerous surficial zones of cobalt-manganese mineralisation & historic Co workings

Mount Tabor (Cobalt, Qld)

Covers ~20km of strike over several known cobalt-manganese mineralised pods

Mount Venn (Gold, WA)

Lightly gold explored greenstone belt adjacent to Gold Roads’ Yamarna project

Parker Range Iron Ore (Iron Ore, WA)

Near mine-ready iron ore deposit located in the Yilgarn of Western Australia.

Czech Republic (Uranium)

Applications over known uranium mineralisation at Brzkov & Horni Venice projects

Bungonia Cobalt (NSW) Numerous historic cobalt prospects within 242 sq km project including historic Cobalt workings

High grade Cobalt in rock chip samples from initial two programmes up to 1.68% Co, with an overall average

in excess of 0.50% Co *

Excellent potential for extensions to known mineralised bodies and the discovery of new Cobalt sources

* See Company ASX releases dated 30 Nov. 2017 & 2 Jan. 2018

• High grade surface mineralisation mapped

for over 700m at the Avanti Prospect

• Untested primary basement mineralisation

also discovered in two areas 5km apart

grading up to 0.15% Co

• Cazaly Resources has a 100% interest in

the project

• Previous metallurgical studies positive

indicating recoveries of 83.2% Co, 79.5%

Cu and 85.9% Ni

Bungonia Cobalt: Avanti One of several known surface occurrences of cobalt within a manganiferous grit host rock in the region

High grade Cobalt in rock chip samples occurring over ~700m

Shallow flat lying mineralisation to be drilled in the current quarter

Drilling will be cheap and effective given the shallow, flat nature of mineralisation - initial resource targeted asap

Outcropping cobalt bearing manganiferous

grits, Bungonia

Mount Tabor Cobalt Several known Cobalt-Manganese prospects in South Central Queensland

Project extends for ~30km with several small but significant pods of known mineralisation

Cobalt mineralisation observed over several prospects; Mt Manganese, Mt Gould, Alpha, Mt Bally-

Lethbridge, Mt Emily and Carnarvon

Metallurgical studies confirm that several leachants, including sulphuric acid, alkaline cyanide and

ammonia may be suitable for treating the ore

Mt Manganese Mn-Co Deposit

Analysis of Bulk Samples, Mt Manganese (Mineral Deposits Ltd)

Mount Venn Gold

Yamarna Shear Zone

& Associated

Greenstone Belts

Mount Venn belt associated with the Yamarna Shear,

adjacent to Gold Road Resources’ (ASX:GOR)

emerging world class Yamarna Gold Project

Look-alike belt to the Dorothy Hills belt, host to

GOR’s Gruyere gold deposit (6.16 Mozs. gold)

Approximately 50km of strike in one of the most

under-explored greenstone belts in Western Australia

Exploration to focus on Camp Scale gold targets

EXTENSIVE GROUND POSITION

CAMP SCALE GOLD TARGETS

YAMARNA BELT REGION

“GRUYERE” LOOK-ALIKE TARGETS

“It is rare to secure such a large land position in an area rapidly becoming known

as a world class gold camp. The geological setting being analogous to the 6

million ounce Gruyere gold deposit and the fact that very little systematic gold

exploration has occurred at Mount Venn makes the project a particularly exciting

opportunity”

Mount Venn

RECENT WORK

• Good regional database generated by previousexplorers – solid base to work from

• Extensive regional coverage including; airbornemagnetics, radiometrics, airborne and groundEM and regional soils & auger

• Historic work very limited for gold; only twogeochem anomalies followed up with drilling andthen largely only down to <50m withinweathered rocks

• Great majority of widespread gold in soil/augeranomalies remain untested

• Most historic work focussed on Nickelexploration

• Cazaly commenced first programmes in 2017

Mount Venn ‘Gruyere’ Comparison

Wartu Granite

Area

THREE BEARS PROSPECT

• Only prospect in the Wartu Granite area to have been drilled to any extent

• Gold in drilling defined over ~2km; 12m @ 1.13, 26m @ 0.27, 16m @ 0.36 g/t Au

• Sits in the postulated ‘Gruyere’ position, no drilling into fresh rock

Plans at same scale showing striking

similarities between the geological setting

of the 6Moz. Gruyere gold deposit and

Cazaly’s Wartu Granite area within the

Mount Venn belt. The Wartu area is

virtually unexplored but with large gold in

soil/auger anomalies coincident with major

structural and geological target positions.

NARROW BELT

FAVORABLE HOST LITHOLOGIES

LARGE INTERNAL GRANITES

‘INFLECTIONS’ ALONG KEY

MAJOR SHEAR ZONESSource: GOR ASX announcement 21 June 2016

Three Bears Prospect• Recent work defines a major, +5km corridor of

coincident, soil, auger & historic drilling anomalism

greatly extending the prospective area at Three

Bears

• Anomalism highlighted by an area specific

geochemical index utilising a suite of gold

pathfinder elements

• Reverse Circulation (RC) and Aircore/RAB drilling

confirm presence of large gold bearing structures

6909625N

x-section

12m/1.13

g/t Au

26m/0.27

g/t Au

4m/0.32

g/t Au4m/0.36

g/t Au

Three Bears Prospect• Two drilling programmes, Jan & July 2017

• Results confirm presence of a large, wide gold mineralised system over 3km long

• Results include; ; 12m @ 1.19 g/t Au,

40m @ 0.36 g/t Au, 36m @ 0.47 g/t

Au, 28m @ 0.32 g/t Au and 25m @

0.21 g/t Au

• Part of a more regional 30-40km long

system of regional shears

• Further targeting underway

Rutters Zinc Prospect

• Extensive area of widespread disseminated

and veined sulphides within a package of

felsic volcanics

• VMS potential recognised targeting a historic

Zn-Au auger geochemical anomaly

• Wide zones of Zn found with elevated Au,

As, Ag, Cu & Pb

• First pass RAB results included;

39m @ 0.23% Zn, 40m @ 0.12% Zn and

13m @ 0.25% Zn and 8m @0.52 g/t Au

• Follow up IP geophysics highlighted a

coincident 1km long anomaly

• RC follow up returned results including

104m @ 0.26% Zn

Parker Range Iron Ore• Quality DSO haematite-Goethite resource, Ready to

Mine

• Excellent infrastructure, existing road, rail & port

• Feasibility Studies done, key approvals received

• Initial 8-9 years mine life, low Phos, highly

marketable ‘sinter’ feed blend ore

• Granted Mining Licence, active mining region

• Contract mine, ramp up production to 4.2Mtpa

• Truck 58km to rail head, rail to Port, export to market

Value realisation through the recognition, exploration & discovery of high value mineral projects…

CAZALY RESOURCES LIMITEDNathan McMahonManaging Director

ACN 101 049 334 ASX: CAZ

Clive JonesManaging Director

Corporate Office:Level 2, 38 Richardson Street, West Perth, Western Australia, 6005

Terry GardinerNon-Executive Director

admin@cazalyresources.com.auPh: +61 8 9322 6283

Don HornExploration Manager

www.cazalyresources.com.au