HUNTING BIG COPPER The search for porphyry copper – gold deposits in Victoria

ASX: NML

Navarre Investor Presentation

26 May 2014

The information contained in this presentation is provided by Navarre Minerals Limited (Navarre) and other sources identified herein. No representation or warranty, express or implied, is made by Navarre or any adviser or any of their respective affiliates or representatives as to the accuracy or completeness of such information. Nothing contained in this presentation is or shall be relied upon as, a promise or representation by any of Navarre or any such advisers, their respective affiliates or representatives.

The information contained in this presentation is for informational purposes only and is not a recommendation as to whether to invest in Navarre shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Navarre management estimates.

This presentation does not include all available information on Navarre, and any potential investor should also refer to Navarre’s Annual Reports and ASX releases and take independent professional advice before considering investing in Navarre. For more information about Navarre Minerals Limited, visit the website at www.navarre.com.au.

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 Navarre or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of 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 or any forecasts, projections, 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. Past performance is no guarantee of future performance.

This presentation may contain “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.

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COMPETENT PERSON STATEMENT

The information in this presentation that relates to Exploration Results, Mineral Resources and Exploration Potential is based on information compiled by Mr Wessley Edgar. Mr Edgar is an employee of Navarre Minerals Limited, is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person under the definition of the 2012 JORC Code. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource. Mr Edgar consents to the publication of this information in the form and content in which it appears.

The information in this presentation that relates to Exploration Targets refers to targets that are conceptual in nature, where there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

The information on porphyry copper and gold Exploration Targets in this presentation are based on a conceptual range of targets as follows: Tonnage range: 300 million to >500 million tonnes Grade range: 0.3% Cu to 2.0% Cu & 0.3 g/t Au to 2 g/t Au Metal: 1Mt contained copper & >0.5 million ounces of gold

Forward-Looking Statement & Disclaimer

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Navarre Minerals Limited

We are a copper & gold exploration company targeting early to advanced stage projects

We aim to discover Victoria’s first major porphyry copper & gold deposit

2,320km² landholding in western & central Victoria

Flagship Western Victoria Copper Project – four porphyry-Cu prospects

Drilling first major porphyry target commencing in June 2014

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ASX CODE: NML

64.24m Ordinary Shares on Issue

Market Capitalisation: Approx. A$4.75m*

*based on $0.074 share price

Corporate Overview - Tightly held capital structure

Major Shareholders

Crocodile Gold Corp 15%

Board & management 22%

John Darroch & family 5%

Lujeta Pty Ltd 3%

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Board and Management – highly experienced leadership team

Kevin Wilson Chairman Geologist & investment banker with 30+ years’ experience

Geoff McDermott Managing Director Geologist with 28 years of international experience

John Dorward Non-Exec Director 18 years of mining & finance industry experience

Colin Naylor Non-Exec Director Accountant with 22 years’ experience in the resource sector

Jane Nosworthy Company Secretary 10+ years’ experience in legal, commercial & company secretary

Wess Edgar Exploration Manager Geologist with 24 years of experience

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Miga Arc Victoria’s emerging copper – gold porphyry province

Similar to Andes, largest known copper porphyry mines, but at an early stage of exploration

Comparable to Macquarie Arc (Cadia Valley & North Parkes mines)

Volcanic arcs host large deposits - porphyry copper, epithermal base metal & gold deposits

Porphyries occur in clusters & are large, low-grade deposits of more than 500Mt with 0.3% - 2% copper 0.3g/t - 2g/t gold

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The Emergence of Victorian Copper

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Eclipse prospect

Total area 1,278km²

100% owned

130kms of volcanics with no deep drill holes

Four confirmed porphyry prospects:

Eclipse Lexington Pollockdale Glenlyle

Close to established infrastructure

Western Victoria Copper Project

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Eclipse Prospect Advancing towards a porphyry Cu-Au discovery

3 large targets: 2 undrilled; no deep drilling

Shallow drilling of IP Target 1:

Discovery of enriched copper (chalcocite) 30m below surface

Discovery of broad gold zone containing high grades up to 5.6g/t Au

Shallow gold & copper part of a deeper & larger anomaly

Follow-up 3,000m angled RC drill program starts June 2014

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IP survey detects deeper copper & gold target

32m @ 0.5% Cu & 0.5g/t Au from 28m

9m @ 0.4% Cu & 0.8g/t Au from 28m

10m @ 0.3% Cu & 0.7g/t Au from 30m

5m @ 1.8% Cu within 23m @ 0.7% Cu

from 30m * See NML ASX release 24 March 2014

Eclipse Prospect – potential ore grade shallow drill results*

9 IP Target 1

Three large targets – only IP Target 1 superficially tested to date

Shallow drilling shows match of high-chargeability with shallow Cu-Au sulphide zone

Secondary chalcocite (enriched copper) indicates deeper porphyry copper source

IP Target 1 upper gold & copper zone linked to deeper, larger IP chargeability anomaly

Prospect area is under-drilled & under-explored

Eclipse – compelling exploration potential

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Testing a major porphyry copper-gold target for the first time

Lexington Prospect next cab off the rank!

* Source: open file data of North Exploration 11

Porphyry confirmed by previous drilling: Porphyry- style alteration

Copper up to 0.6%*

Molybdenum up to 800ppm*

500m x 700m chalcocite blanket with minor native copper only limited by drill testing

under-drilled & under-explored

Lexington Prospect - Positive signs for a discovery

Highly anomalous geochemistry & quartz veining

Granodiorite porphyry core

Tectonic quartz veining

Sulphide in surface rocks

Lexington magnetic image

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Chalcocite blanket

Eclipse Prospect:

3,000m RC drill program, June 2014

Diamond drill design & permitting, Q4 2014

Lexington Prospect:

Surface geochemical surveys

Geophysics surveys – magnetics & IP

Air-core drill program, Q4 2014

Regional exploration

Mapping & soils program over 50+

identified targets

2014 Proposed Exploration Program Testing a major porphyry copper-gold target for the first time

Eclipse RC drilling – Jan 2014 13

Bendigo North Gold Project

Farm-out to Catalyst Metals Limited

51% interest by spending $3M over 4 years

Final agreement due late May 2014

Landsborough Fault Gold Project

Potential satellite deposits to Stawell Mine

2012 drilling at Kingston intersected

16.9m @ 5.5g/t Au from 65.7m

Stawell Corridor Gold Project

Ararat & Tatyoon, 5Moz Stawell Mine look-alike

Targeting shallow long-life, fine gold deposits

Pipeline of Projects

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Western Victoria Copper Project is an exceptional opportunity

Emerging under-explored Cu-Au porphyry province with giant deposit potential

Similar to Macquarie Arc’s Cadia Valley & North Parkes region at early-stage exploration

Independent studies suggest proximity to porphyry Cu-Au at depth

Drilling planned for Eclipse, first major porphyry target starting in June 2014

50+ regional targets to follow-up

Summary

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Contact Us:

Navarre Minerals Limited

Geoff McDermott

40-44 Wimmera Street

Stawell

VIC Australia 3380

Tel: 03 5358 8625

Website: www.navarre.com.au

Email: info@navarre.com.au

Navarre Minerals Limited

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Thank You