Devex Resources : Investor Presentation September 2019

Investor Presentation

SEPTEMBER 2019

ASX : DEV

Important Information

• Forward Looking Statements
  This Presentation may include statements that could be deemed "forward-looking statements". Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.
• No offer to sell or invitation to buy
  This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.
• Disclaimer
  Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives:
• • make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
  • accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
  • accept no responsibility for any errors or omissions from this Presentation.
• Competent Person Statement
  The information in this Presentation that relates to the Exploration Results for the West Arnhem-Nabarlek Project, Nabarlek Prospect and U40 Prospect are extracted from ASX announcements entitled "Drilling intersects uranium mineralisation beneath the historical Nabarlek Open Pit and at U40 opening up new discovery opportunities" released on 10th September 2019, "Technical Review Recognises Strong Similarities Between U40 Prospect and the Coronation Hill U-Au-PGE Deposit " released on the 9th May 2019, "Large Drill Target Defined Below Nabarlek Uranium
  Mine, West Arnhem Project, NT" released on the 9th October 2018, "Uranium-Copper-Gold Drill Target Defined at West Arnhem Project, NT" released on the 12th September 2018, "Multiple Priority Drill Targets Identified at West Arnhem Copper-Gold-Uranium Project, NT" released on the 6th December 2017, "UEQ Identifies High-GradeCopper-Gold and Base Metal Potential at NT
  Uranium Projects" released on the 4th October 2017 and "Higher Uranium Grades Returned from U40 Prospect - Nabarlek Project, Northern Territory" released on the 16th December 2010, all of which are available on www.devexresources.com.au.
  The information in this Presentation that relates to Exploration Results for the Junee Project are extracted from the ASX announcement titled "New copper and gold mineralisation supports potential for large-scale porphyry system at Junee, NSW" released on 11th September 2019 and "DevEx Further Expands Potential of Junee Copper-Gold Project, NSW with Identification of Additional Porphyry Targets" released on the 5th March 2019 and "Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW" released on the 24th January 2018, all of which are available on www.devexresources.com.au. The information in this Presentation that relates to Exploration Results for the Bogong Project is extracted from the ASX announcement titled "Porphyry- hosted copper-gold targets identified in maiden exploration program at Bogong Project, Lachlan Fold Belt, NSW" released on 1st August 2019 and "Copper-Gold Targets Identified at Bogong Project, NSW" released on the 22nd May 2018 which is available on www.devexresources.com.au.
  The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement.
• Exploration by Other Explorers

This presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this presentation. The Company does not vouch for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and has assessed it to be of relevance 2 to shareholders and investors.

The Company

Hunting for major porphyry copper-gold deposits in NSW

• Fresh projects in the premier Lachlan Fold Belt
• Significant copper intercepts drilled decades ago, but never followed up Shallow, drill-ready targets identified
  Large-scale discovery potential in a district with known, massive copper- gold endowment (Northparkes, Cadia-Ridgeway)
  Active exploration with ground IP geophysics imminent to refine targets ahead of drilling in Q4 2019

One of a few ASX companies drilling for high-grade uranium

• District-scaleproject in Australia's premier uranium province
• Strong leverage to recovering uranium market
• Market cap of just ~$10M

Led by a proven and experienced team

• Invested and highly motivated

3

West Arnhem

Nabarlek Project

PERTH

Junee Project		SYDNEY
Bogong Project

West Arnhem Nabarlek Project

URANIUM, COPPER-GOLD

• Located in the Alligator Rivers Uranium Province NT, host to large scale uranium deposits: Ranger Mine +200Mlbs U3O8 ; Jabiluka +300Mlbs U3O8
• New drilling program confirms uranium mineralisation beneath historical Nabarlek Mine - Australia's highest-grade uranium mine: 24Mlbs @ 1.8% U3O8 (mined out) and at U40 Prospect
• Limited pool of ASX-listed uranium explorers
• Q4 2019: review of historical EM data to refine targets for further drilling

Bogong Project

COPPER-GOLD

• Fresh opportunity - no exploration for +45 years
• Potential for substantial copper-gold discovery enhanced by recent fieldwork and supported by historical drilling
• Porphyry-hostedcopper-gold targets identified with copper-sulphides (chalcopyrite and bornite) at surface. Rock chip results up to:
  10% Cu and 0.47g/t Au
• Significant shallow historical drilling intercepts:

54.9m @ 1.1% Cu from 6.1m;

9.2m @ 2.0% Cu from 39.6m

• Open-endedcopper-gold system over >500m of strike
• September 2019: Ground IP geophysics to assist with drill targeting

Junee Project

COPPER-GOLD

• Recently recognised as part of Macquarie Arc - host to massive porphyry copper-gold deposits such as Northparkes / Cadia-Ridgeway
• No drilling for +20 years = underexplored in a world-class region
• New fieldwork provides further evidence of a major, widespread porphyry copper-gold system
• Collective results confirm the NSW Geological Survey's review that rocks within the Project are prospective for large-scale porphyry systems

• Q4 2019: Induced Polarisation (IP) geophysics to prioritise drill targets 4

Bogong and Junee

Copper-Gold Projects

NEW SOUTH WALES

Large scale porphyry copper-gold potential, tightly held by major miners

Significant ground position, rapidly advancing drill targets