Springdale ProjectJanuary 2018

All currency amounts are in AUD$ unless stated otherwise.

DisclaimerThis presentation has been prepared by Comet Resources Limited (“Company”). It does not purport to contain all the information that a prospective investor may require inconnection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice,financial product advice or advice relating to legal, taxation or investment matters.

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Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views maydiffer and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside thecontrol of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions,expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved.

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Competent Person’s StatementThe information in the report to which this statement is attached relates to Exploration Results, Mineral Resources or Ore Reserves compiled by Mr A Cooper, who is a Consultant anddirector to Comet is also a Member of The Australian Institute of Mining and Metallurgy, with over 30 years’ experience in the mining industry. Mr Cooper has sufficient experience,which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the2012 edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Cooper consents to the inclusion in the report of the matters basedon his information in the form and context in which it appears.

Exploration TargetsThe terms “Target” or “Exploration Target” where used in this presentation should not be misunderstood or misconstrued as an estimate of a Mineral Resource as defined in the JORCCode and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature, there has been insufficient exploration to define a Mineral Resource andit is uncertain further exploration will result in the determination of a Mineral Resource.

US disclosureThis document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “USperson” as defined in Regulation S under the US Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act orthe securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered orpursuant to an exemption from registration including an exemption for qualified institutional buyers.

Important Information

• Free hold land title – no Native Title issues.• Leverage – low market capitalisation with exploration upside.• Australian project - low sovereign risk and a stable operating

environment.• Infrastructure - access to sealed road and Esperance port

facilities (150km).• High grade graphite.• Metallurgical testwork has shown that solid rock can

converted to quality graphene.

Springdale Project Overview

Springdale Project Location

Successful Exploration• Discovered in March 2016• Graphite mineralisation interpreted over 26 km of strike from recent

aeromagnetic survey.• 1.8 km tested to date, still open at depth and along strike.• Multiple graphite zones.• Best Hole HD018 intersected 5.6 metres at 7% TGC, 2.6 metres at

5.3% TGC, 4.6 metres at 15.8% TGC and 11 metres at 25.6%TGC including 9 metres at 30.2% TGC

• Drilling planned to extend the high grade graphite zones and testnew targets.

Comet’s Springdale Project now has that “X factor” property with graphene being identified from exfoliated ore.

New Graphite Horizon Targets

Interpreted form Aeromagnetic Survey

Springdale graphite flakes are connected. This allows the ore to conduct electricity.

Why the Springdale Project

This makes the Springdale ore very unique and valuable.

Springdale ore conducts electricity and it will alsoexfoliate. Exfoliation is used to peel graphene flakesfrom the graphite in the rock. The few layered grapheneflakes are then separated from the product using aseries of process steps.This is a very rare characteristic in graphite ores.

Why the Springdale Project

This makes the Springdale ore very unique and valuable.

Ø It is the thinnest and toughest 2D material. 200 times strongerthan steel.

Ø Graphene is flexible and transparent, has the largest surface areaof all materials, and is the most stretchable crystal.

Ø Graphene is currently the best electrical conductor known to manand is the perfect thermal conductor.

Ø Graphene is light and weighs just 0.77 milligrams per squaremeter and has the highest surface area of all materials.

Why Graphene

SpringdaleGraphene Particle

Discovered in 2004. “Start of the Graphene Age”

Graphene can be incorporated into a huge number ofapplications

• Coatings and paints• Composite materials• Conductive inks• Displays/Screens• Thermal applications• Energy containers• Membranes/Sieves• 3D Printings

• Sensors• Electronics • Energy generation• Photonics / Optics• Medicine and biology• Lubricants• Spintronics• to list a few

Thousands of graphene relatedpatents have been filed and thisnumber grows weekly. The timelags between discovery, Nobel Prizeand mass market acceptance isbecome compressed.

Key PersonnelTony Cooper - Managing DirectorMr Cooper has over 30 years experience in mining and mineral exploration industry and is the ManagingDirector for Comet Resources Ltd. He was the geological manager of the BHP Billiton Ravensthorpe NickelProject since its conception in 1996 drilling the first discovery holes. He was appointed the “competent person”for reporting Mineral Resources and Ore Reserves for the group and also worked with the metallurgical group todevelop an understanding of grade and recovery after beneficiation. He has expertise in both open cut andunderground mining operations includes mine development, resource evaluation, grade control strategies andmine reconciliation. His exploration experience is comprehensive and incorporates all stages from projectgeneration to feasibility. He holds a B. Appl. Sc. Geology, Curtin University, WA, a Mining ExecutiveDevelopment Program, School of Mines and is a member of the Australasian Institute of Mining and Metallurgy.

Hamish Halliday - DirectorBSc (Geology), MAusIMMMr Hamish Halliday is a Geologist with over 20 years of corporate and technical experience in the miningindustry. Mr Halliday has been involved in the discovery and acquisition of numerous projects over a range ofcommodities throughout 4 continents.Mr Halliday has founded and held directorships with a number of successful listed exploration companies

including Renaissance Minerals, Alicanto Minerals, Blackstone Minerals Ltd and Adamus Resources Ltd. He wasCEO of Adamus from its inception through to successful completion of a feasibility study on its gold project inGhana which is now in production.

Cicero Advisory Services – Corporate AdvisorsCicero is a highly successful boutique Australian based advisory firm headed by experienced marketparticipants, Mathew Walker and James Robinson. It has been instrumental in numerous recent ASX domiciledtransactions including Initiger Group Limited (ASX: IAM), Wangle Technologies Limited (ASX: WGL), BrooksideEnergy Limited (ASX: BRK) and Yojee Limited (ASX: YOJ). Further details regarding Cicero can be found atwww.ciceroadvisory.com.au

Capital StructureASX: CRL5

Market Capitalisation*$20,000,00

0 Last Price $0.12Cash $1,000,000 26 Week Price Range $0.024 - $0.145 Fully Paid Ordinary Shares

170,000,000 Top 20 Shareholders 54%

Converting Securities** 59,000,000 Board & Management 21%

Confirmation of the presence of high quality Graphene at Springdale is a game changer for the future of this project, dramatically changing the potential economics of the project .• ASX listed for 23 years• $32 million returned to

shareholders• $100,000 Exploration Incentive

Scheme Grant• R and D rebate

Contact Details

Address: Unit 1, 4 Canning RoadKalamunda, WA 6104

Phone: +61 (8) 9466 7770Email: comet@cometres.com.au

Tony CooperManaging DirectorPhone:+61 429 924 691Email: tony.cooper@cometres.com.au

Can graphene really save the world? Michael Baxter on 5th April 2017

It is said that there are two holy grails of physics: efficient water desalination, and efficient means for storing energy. Graphene, it appears cando both. It can also do a whole lot more besides, including giving Moore’s Law a new lease of life. But is this little more than a pipe-dream?Technology cynics seem to have an inability to understand time. There are massive time lags in the development of technology – always havebeen. Graphene was first isolated in 2004, it won the researchers behind the breakthrough, Andre Geim and Kostya Novoselov, from theuniversity of Manchester, a Nobel Prize in 2010, and today it is beginning to look as if the promise of this miracle material is about to berealised. Still cynics pour scorn on the very idea – dismissing the latest breakthroughs as ideas that work in theory but not in practice. Theysay that we have been hearing about the promise of graphene for years and yet that is all it is, promise, and never reality.They seem to be unaware that the 13-year period, from isolation of graphene to today is actually incredibly short. In fact, consider the time lagbetween isolation and Nobel Prize – six years. That is an incredibly brief period of time. But, that is what it is like today, the time lags betweendiscovery, Nobel Prize and mass market acceptance have become compressed.Imagine an electric car, or an electric aircraft. Its shell is made of graphene making it ultra-light, and thus making it very fuel efficient. Thewindows are made of graphene, so you can heat them up quickly, thawing any ice that may have accumulated on a frosty morning in hardlyany time. Likewise, the seats are made of graphene. The battery is graphene too, which can be charged up far more quickly than lithium ionbatteries, and can enable the car/aircraft to travel much further between re-charges. Finally, graphene based circuitry means that the variousinstrumentation can be displayed anywhere you like, on the windows, perhaps.One gramme of graphene has the same surface area of a tennis court, it is 50 times stronger than steel, and a superb conductor of electricity,the best thermal conductor, transparent, and highly flexible.Last week, Sir Richard Branson predicted that in ten years or so from now, airplanes will be made of graphene rather than carbon fibre.But now a report published in Nature has claimed to have found a way to use graphene as a sieve, so that you can separate water and the saltin salt water.In fact, the potential application of graphene for water desalination has been known for some time, what we appear to have seen is abreakthrough in the practicality. The idea is simple, drill tiny holes in a graphene membrane which are too small to allow salt molecules to passthrough. The snag has been that the holes get bigger with use. The breakthrough relates to coating the graphene with epoxy resin which stopsthe expansion of the holes.But, if the technology can be cost effectively ramped up, this is an incredibly important breakthrough – it may even reduce the chances of aglobal conflict.That may seem like an over the top claim, but bear in mind that the third largest fresh water resource in the world lies in Tibet – only the Arcticand Antarctic hold more fresh water. And the rivers that flow from this region, such as the Indus, Brahmaputra, Irrawaddy, Salween, Mekong,Yellow River, Yangtze, Kiang and Sutlej are the most important sources of water to the world’s two most populous countries: India and China.A recent report in the FT quoted Jean-Louis Chaussade, boss of the French company Suez, citing projections that by 2035 some 40 per cent ofthe world’s population will live in areas facing water scarcity, and then predicted that water will become more valuable than oil.Not only are India and China the world’s most populous countries, by the end of this century, they will be the two richest. But fresh water isfinite in supply – at least it is at the moment – and there is a real danger of conflict as countries battle for control of this scarce resource, justas they have done in the past for oil.But the graphene water sieve could solve that problem, make the supply of fresh water ample and in the process, solve the threat of massstarvation and remove the biggest threat to global security.So yes, graphene really can save the world

Dr. Flint weighs in on Graphene

Dr. Ian Flint | September 27, 2017For many years now graphene has been one of the largest fields of research and “graphene” products are beginning to enter commercial markets. Graphene hasbecome a marketing term that denotes the something other than traditional graphite fiber or carbon black. However, the products that you think have grapheneare probably using graphite as the “graphene” used in their development and fabrication often contains only traces of true graphene.The graphene research has concentrated on both forms of graphene: take down and build up.Build-up graphene is a constructed layer of graphene typically built on a sheet of copper by the decomposition of CO2 or methane. These sheets are thentransferred to different media. The costs of this type of graphene is high. Thus, the number of successful applications that use this method have been limited toelectronics or other very small surface area applications. Examples are graphene based lights. Graphene sheets that have various chemically produced holes intheir lattice, or that have different chemical groups attached to them, do show potential for gaseous detection or specialized filters. Many companies withmultimillion dollar graphene development projects, which use this type of graphene, have not performed; not because the applications didn’t work but becausethey were not economic. Outside of electronics, build up graphene has proven to be too expensive.Take down graphene is formed by peeling layers from graphite and is much less expensive to make. There are many processes that “supposedly” create graphenein this way. These include microwaves, plasmas, and other forms of exfoliation. These do result in graphene but generally only a few percent. Usually theseproducts contain less than 20% graphene and the often contain less than 5%. There are two known examples that are better; at 54% and 90%. The graphenecreated this way is often termed graphene platelets or graphene nano-platelets (GNP) and have a lateral dimension of approximately 0.1 to 4 micrometers withbetween one and nine layers. Generally, the sales value of this graphene falls in the range of $40 to $200 a gram.The graphite that is not converted to graphene by these processes is termed graphite platelets. Generally, these failed particles have the same dimensions asgraphene but have between ten and thousands of layers. The value of graphite nano-platelets is usually between $2 and $20 per gram.Both graphite and graphene platelets are often described using the word ‘nano’ leading to both using the acronym (GNP). Whether on purpose or not, it does leadto significant confusion.Unless the research is being done using one of the few sources that produces high percentages of graphene actual performance of the products is based on thecharacteristics of the graphite platelets; the vast majority of applications, developed to date, actually use the nano-platelet graphite. Either form of these plateletscan increase the heat and electrical conductivity of composites, or inks, and improve physical strength when compared to many other fillers. Popular applicationsare the replacement of carbon black with either form of these particles. Examples are tires and plastic composites used for making tennis rackets and hockeysticks or many of the “graphene” inks. What is labelled graphene is usually not. However, these are valid applications that deserve the attention that they get,albeit as graphite and not graphene as they are often labelled. However, despite the marketing, the major revolution of graphene is yet to occur, and will notoccur until there is a reliable, low cost supply of high quality graphene.

November 6, 2017 Will A Graphene Battery Power Tomorrow’s Tesla Car? by Daniel NelsonElectric vehicles like the Tesla Model 3 could be powered by graphene batteries in the future. Photo: TeslaAs electric cars gain increasing market share, new battery technologies are being implemented in them to improve their range andefficiency.Graphene batteries are one of the new technologies that could be applied to electric vehicles. One of the biggest problems withelectric vehicles is that the batteries electric cars use are large and heavy. These batteries take a long time to charge and run out ofenergy rather quickly. To solve this problem, many are looking to graphene batteries as a solution. Just last year a studentengineer at the University of Sussex designed a new graphene-based battery that has the potential to revolutionize the landscape ofelectric vehicles. Graphene batteries can improve over current battery technology in many different ways, such as offeringincreased battery life and performance.What Is Graphene?Graphene batteries can offer improved performance over traditional batteries thanks to the structure of graphene. Graphene iscomposed of carbon atoms tightly bound together in a honeycomb-esque structure. The graphene structure is so thin it isessentially two dimensional. Graphene is an excellent conductor of both thermal and electrical energy. Graphene is also chemicallyinert, has a large surface area yet remains flexible, and is very lightweight. Graphene is typically considered sustainable andenvironmentally friendly, with many different possible applications.Graphene’s hexagonal, thin structure means it is an excellent conductor.

Electrons typically have a small effective mass associated with them whenever they move through a solid structure, which limits their movement.This is a result of their interactions with all the other particles around them. Since a sheet graphene is two dimensional it doesn’t have theseinteractions with other particles, so the electrons in the graphene act as though they have no mass. They can move quickly through space, almostat the speed of light.This unique behavior is what makes graphene so impressively conductive, able to conduct electricity almost 35% better than copper. Electrontransport through graphene is also 1,000 times better than through silicon, which contributes to why computers based on graphene transistorshave the potential to be thousands of times faster than current silicon-based computers. This is also why graphene maintains a minimumconductance at all times.Battery Applications for GrapheneIn terms of battery applications, the performance of regular batteries can be enhanced significantly when combined with graphene. Graphenebatteries are well suited for shorter charging time and high capacity energy storage. The amount of carbon in the material of a battery or in thebattery’s electrodes is negatively correlated with the lifetime of the battery, but graphene can improve conductivity without needing the sameamount of carbon used in regular batteries.Graphene can improve various facets of batteries like energy density and structure. Traditional lithium-ion batteries can be improved by combininggraphene with the battery. The battery’s anode can have graphene added to it, which can optimize the battery’s performance by capitalizing on thematerial’s conductivity.Hybrid materials can also enhance batteries. Graphene and Vanadium Oxide can be combined together to grant quick charge and dischargeabilities for lithium-ion cathodes. Hybrid materials can also improve charge cycle durability and conductivity. Vanadium Oxide has poor electricconductivity, but by using graphene as a backbone which the oxide can attach to, it creates a hybrid that allows for both superior capacity andconductivity.Li-ion rechargeable batteries can be improved with graphene as well. Lithium Iron Phosphate (LFP) batteries have a higher overall power densitythan other Li-ion batteries, but they also have a lower energy density. Graphene can be used to enhance the LFP cathodes, allowing the batteriesto be much more lightweight, have a greater storage capacity, and charge much quicker than regular LFP batteries. The combined use of graphenebatteries along with supercapacitors could drastically improve the efficiency and driving range of electric cars, and electric vehicle companies haveinvested in the development of graphene batteries for their cars.Graphene Batteries in Electric VehiclesNew advances in graphene batteries have lead to the creation of a battery that surpasses the performance of any lithium-ion battery currently inuse. Graphenano, a Spanish battery company, unveiled last year a graphene-polymer battery which could let electric vehicles drive up to 800 km,or 497 miles, on a single charge. The battery could also theoretically be charged in only a few minutes. Thanks to its graphene construction thebattery is capable of charging and discharging approximately 33 times faster than a regular lithium-ion battery. The Fisker Corporation, run byHenrik Fisker, perhaps the foremost rivals to the success of Tesla’s electric vehicles, was initially planning on using graphene batteries in its newelectric car, the Fisker EMotion. However, the plan was subsequently dropped in favor of lithium-ion batteries. Despite the decision to pass ongraphene batteries for electric vehicles, for the time being, Fisker has said that the company’s research into solid-state graphene battery cellswould continue.Fisker’s EMotion was planned to launch with a graphene battery, though this is no longer the case. Fisker has said it will keep doing research intographene battery technology.

If Fisker does decide to use graphene batteries in their vehicles, they would probably be the first company to do so. That said, it is unlike Teslato sit on the sidelines while other companies pursue advances in electric vehicle technology. Odds are good that if graphene batteries becomea transformative technology, Tesla will pursue their use in some capacity.In the meantime, research into graphene batteries continues, as does work on supercapacitors that can utilize graphene and may rendertraditional batteries obsolete in the near future. The supercapacitor is comprised of three layers. It has two layers of graphene while themiddle layer is a layer of electrolytes. The supercapacitor film is very thin yet very strong and stable, and it can release an impressive amountof energy in a very short time span, which is necessary as electric vehicles need extra energy for quick spurts of acceleration.A recent market analysis done by Global Market Insights suggests that the market for graphene batteries will expand to around $97 milliondollars by 2023. As graphene battery technology becomes more affordable and more efficient, it wouldn’t at all be surprising to see them inelectric vehicles sometime soon.

How light can a carbon frame go? Simon Smythe June 1, 2017Ten years ago a sub-kilo frame was the ultimate in composites engineering. Now 700g is the new kilo. Can carbon frames go much lighter without compromising safety and rideability?Here in the UK, Richard Craddock of Filament Bikes hand-builds carbon frames using a tube-to-tube construction process that allows him to customise every aspect, including the weight.Is graphene cycling’s next game changer?“When I design the laminates for my custom carbon tubes I want them to be firstly reliable — to be durable and last a long time,” says Craddock. “Secondly, they have to be strong. The rider can be up to 100 times heavier than the frame, and peak loads occur when hitting bumps or potholes in the road. “Thirdly, they have to be stiff, to transfer efficiently the pedalling forces into forward motion. Lastly, they have to be light — to climb and accelerate easily.

“So the question for me would be, how light can a carbon frame go while still delivering the required performance?” asks Craddock.“With current materials science, once a frame dips below a certain weight it has compromised on some of points one to three, so that’s not desirable.”“A 400g frame could be made and ridden but it wouldn’t be a very good ride and it would be more susceptible to damage, and not just in a crash: transport, handling, small knocks, stone strikes, dropped chains, workstands and roof rack clamps would be some of the hazards to very thin laminates using very high-modulus fibres that are very brittle.”Enter grapheneHowever, another British manufacturer, Dassi, is convinced it could make sub-500g carbon frames in the very near future thanks to adding graphene — something that, although used in other components, at the moment no other frame manufacturer is using.Stuart Abbott, founder of Dassi and a former Rolls-Royce aerospace design engineer, explains: “Graphene is a British invention —discovered at Manchester University in 2004. It’s taken a long time to get it to a point where we can produce it in bulk and make it useable in physical applications.

Dassi’s graphene rideEven to this day, they’re still discovering the benefits of graphene because it’s not completely understood — it’s a wonder material. As far as we know we’re the only ones to be using it and that’s because we have a global licence with two of the biggest graphene suppliers on the planet, who just happen to be UK-based.”Graphene is a form of carbon and is added to the epoxy resin that is used with the carbon fibres to build the prepreg sheets that make up a frame. “Graphene acts like a two-way Velcro,” says Abbott. “It binds itself to the epoxy at an atomic level. It also binds itself from the epoxy to the carbon-fibre, which gives you an incredibly strong bond. Graphene is typically 25-30 per cent lighter [than non-graphene carbon] but up to 70 per cent stronger. “At the moment we’re at 600g but we’re targeting 500g,” adds Abbott.Expert viewStuart Abbott, CEO, Dassi

“I’m waiting for the first monocoque, aero-profile, graphene frame to come out of the factory any day now targeting 600g. As soon as you start to address the aerodynamic properties of a frame you start having to increase the size of the tubes and their profiles and that adds more weight.“What graphene allows you to do is keep the same tube size in relative terms, but take away the amount of material you’re having to apply because it’s typically 25-30 per cent lighter but up to 70 per cent stronger.“How light could a frame with graphene go? We’re trying to get 500g out of our R&D process. When we get a frame back from themanufacturing facility we’re looking for fatigue tests, the ISO impact tests and we’re looking to compare that with the finite element analysis [FEA] that we do with the guy who designed the Airbus 380’s wing.“We’ve got to a point now where based upon the weight of the rider we can put that into our FEA model and give a target weight of the frame if we modelled it for the weight of the rider rather than taking an average Joe of 90kg. So we might happily be able to go below 500g for certain riders if we’ve got their weight.”Our takeGraphene is a gift to the cycle industry, allowing carbon frames to be ludicriously light, stiff and strong. Dassi’s Stuart Abbott even claims it has vibration-damping properties, which he plans to test in the coming weeks. The UK is leading the way in this new technology and it can’t be long before the big brands get into graphene and 500g carbon frames become the new normal.