with an exciting portfolio of high-quality nickel & gold projects...with an exciting portfolio of...

www.azureminerals.com.au

@AzureMinerals

ASX: AZS

Tony RoviraManaging DirectorAzure Minerals Ltd

Investor PresentationNovember 2020

AZURE IS BACK IN WAWith an exciting portfolio of

high-quality nickel & gold projects

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Quality nickel & gold projects in WA

ENTERED INTO JV’s ON 4 PROJECTS WITH MARK CREASY

Andover Nickel-Copper Project60% Azure / 40% Creasy

Turner River, Meentheena & Coongan Gold Projects70% Azure / 30% Creasy

+

Barton Gold Project in Kookynie Gold District100% Azure

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Corporate snapshot

CORPORATE STRUCTURE

Share Price (@ 12 November 2020) A$0.70Shares 242.2 millionOptions 5.85 millionMarket Cap A$170 millionCash (@ 30 September 2020) A$3.0 million

Debt(Convertible Note: conversion @ A$0.145)

A$2.0 million

MAJOR SHAREHOLDERS

Creasy Group 19.1%Deutsche Balaton 18.0%Teck Resources Ltd 11.4%Directors & Management 2.7%Top 20 60.0%

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Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20

Last Price

12-Month Share Price

Acquisition of WA Gold & Nickel Projects from

Creasy Group

Drilling starts at Andover

Hole 1 intersects Massive Sulphides



Holes 1 & 2 assays


The Pilbara – a Tier 1 exploration & mining region

Hemi gold discovery

Andover: 70km2New nickel-copper discovery in layered mafic-ultramafic intrusive complex

Turner River: 450km2Adjacent to De Grey’s Mallina Gold Project & Hemi gold discovery

Coongan: 223km2Adjacent to Novo’s Beatons Creek Gold Project

Meentheena: 141km2Gold exploration by Creasy since 1994

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Andover: new nickel discovery

Turner River: Hemi lookalikes?

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Andover Nickel-Copper Project

Andover Project70km2

First class infrastructure

• Commercial flights

• Highways, roads & rail

2.5 hours from Perth airport

• Power & scheme water

• Cell phone coverage

• Accommodation & services

• Good access throughout project area

ADRC002:7m @ 2.62% Ni & 0.65% Cu from 43m;in 26m @ 1.03% Ni & 0.46% CuSemi-massive and disseminated sulphides

ADRC001:4m @ 1.10% Ni & 0.80% Cu from 6mGossan

ADRC001:2m @ 1.77% Ni & 0.53% Cu from 62mSulphide stringers

ADRC006:2m @ 2.10% Ni & 0.44% Cu from 15mSemi-massive and disseminated sulphides

* Refer ASX announcement 17 July 2020

Target 1

Target 2

2018 - Nickel sulphides discovered by Mark Creasy*

Azure’s exploration

Surveyed 12 EM targets in September

Multiple bedrock conductors identified

#1 priority: VC7

Diamond drilling started in October

VC7

4 holes completed

Massive Ni-Cu sulphides intersected in every drillhole

Hit EM conductor = hit massive nickel sulphides

Diamond drilling at VC7

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ANDD0001:3.9m @ 2.8% Nickel and 0.5% Copper from 94.5m in massive sulphides in:

22.4m @ 1.0% Nickel and 0.6% Copper from 81.6m

AND

5.0m @ 2.1% Nickel and 1.1% Copper from 116.0m in massive to matrix sulphides in:


ANDD0002:

4.6m @ 2.4% Nickel and 0.5% Copper from 113.0m in semi-massive sulphides in:


Massive sulphides & high-grade nickel*

* Refer ASX announcement 9 November 2020

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ANDD0003Three sulphide zones

Assays pending

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ANDD0001 ANDD0002 ANDD0003

Massive Sulphides Matrix Sulphides Semi-Massive Sulphides

3.57% Ni0.42% Cu 2.31% Ni

0.82% Cu Assays pending

VC7 conductor down-dip extent: >150m - 200m

VC7

ANDD0004

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*** 38.1m mineralised envelope from 336.1m ***

6.10m of blebby to matrix Ni-Cu sulphides from 347.50m

4.05m of massive Ni-Cu sulphides from 354.80m

4.10m of heavily disseminated to matrix to massive Ni-Cu sulphides from 359.20m

ANDD0004 – multiple zones of Ni-Cu sulphides

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ANDD0004

Massive Sulphides Matrix Sulphides

VC7 conductor strike length: ~1,050m

VC7 conductor down-dip extent: >150m - 200m

38.1m mineralised zone with massive and matrix sulphides

Assays pending

Massive nickel & copper sulphides intersected in first 4 drill holes

EM conductor plate 1,050m long & >150-200m deep

Diamond drilling continuing – one hole every 7-10 days

Regular delivery of assay results going forward

Multiple electromagnetic conductors identified - more drill targets

Drilling planned through 2020 into 2021

Andover - a new nickel-copper sulphide discovery

www.azureminerals.com.au

@AzureMinerals

ASX: AZS

Thank youFor enquiries, please contact:Tony Rovira, Managing [email protected]

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Competent Person Statements

OPOSURAInformation in this report that relates to Mineral Resources for the Oposura Project is extracted from the report “Azure Expands Oposura Mineral Resource” created and released to the ASX on 8 May 2019 and is available to view on www.asx.com.au. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcement, and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.

Information in this report that relates to the Scoping Study for the Oposura Project is extracted from the report “Oposura Scoping Study Delivers Outstanding Economics” created and released to the ASX on 15 October 2018 and is available to view on www.asx.com.au. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcement, and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.

ALACRÁNThe information in this report that relates to Mineral Resources for the Mesa de Plata and Loma Bonita deposits on the Alacrán Project are extracted from the respective reports “Mesa de Plata Mineral Resource Upgraded” and “Loma Bonita Mineral Resource” created and released to the ASX on 1 December 2016 and 21 December 2016 respectively and are available to view on www.asx.com.au. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcement, and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.

EXPLORATION RESULTSInformation in this report that relates to previously reported Exploration Results has been crossed-referenced in this report to the date that it was reported to ASX. Azure Minerals Limited confirms that it is not aware of any new information or data that materially affects information included in the relevant market announcements.

http://www.asx.com.au/http://www.asx.com.au/http://www.asx.com.au/

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with an exciting portfolio of high-quality nickel & gold projects...with an exciting portfolio of...

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