Alma Metals

DR FRAZER TABEART

MANAGING DIRECTOR

(ASX:ALM)

◾ Company Name: Alma Metals ◾ Company ASX code: ALM ◾ Key commodities: Copper and gold ◾ Key Personnel: Mr Alasdair Cooke, Executive Chairman | Dr Frazer Tabeart, Managing Director | Mr Dan Davis, CFO ◾ Locations: Queensland, Western Australia ◾ Market Cap as of 15/07/22: $8.13M ◾ Share price range over 12 months as of 15/07/22: $0.053 - $0.010 ◾ Company Website: almametals.com.au

COMPANY PROFILE

Alma Metals is an Australian minerals exploration company with three exploration projects currently on the go, hunting for copper and gold – one in Queensland and the others in Western Australia.

The company’s Queensland operation, and its apparent main focus at present, is its Briggs, Mannersley and Fig Tree Hill Porphyry Copper Joint Venture, made up of three exploration permits covering a total area of 241km2 .

The project contains a JORC compliant Inferred Resource estimate of 143Mt @ 0.29% copper at a 0.2% copper cut-off grade in the Briggs Central Porphyry.

Recent exploration results were highly positive, with porphyry mineralisation now logged in nearly every hole along a strike length of more than 1,500m below a surface geochemical anomaly which is over 2,000m long and more than 750m wide.

Soil sampling on this project is the first modern program to collect high resolution, low detection level gold and multi-element geochemistry across the entire Briggs porphyry system, and was performed as part of Alma’s exploration commitment under its earn-in joint venture deal with Canterbury Resources (ASX:CBY), under which ALM can earn up to 70%.

In April, metallurgical test work from Briggs returned copper recoveries of between 92% to 95%, producing concentrates with grades ranging from 17% to 20%. The company notes that there’s significant potential to improve the results through optimisation, including evaluating the grind size, selective collector use and pyrite suppression.

Analysis of all exploration data has allowed Alma to report an exploration target of 450Mt to 850Mt of copper mineralisation ranging from 0.20% Cu to 0.35% Cu, and the Company expects to resume drilling shortly.

Meanwhile, in Western Australia, Alma has identified a first mover opportunity for copper mineralisation in the East Kimberley. The Company has applied for five maximum size exploration licences encapsulating multiple copper occurrences in ancient sedimentary layers, and is currently negotiating an exploration agreement with the traditional owners and native title holders. On-ground work is expected to commence later in the year.

Alma is also exploring its South West Terrane project in WA, where licences have been granted across three areas considered prospective for large porphyry copper-gold deposits and/or intrusion related orogenic gold deposits. Alma believes that the projects may be spatially related to nearby large-scale porphyry deposits such as Boddington and Caravel.

Alma says project areas are also considered prospective for intrusion related orogenic gold mineralisation.

The leadership group at Alma Metals is a who’s who of resource exploration, with Dr Frazer Tabeart in the captain’s seat as Managing Director. Tabeart is an industry veteran with more than 30 years experience in the international resources industry in both exploration and mining projects covering copper, gold, coal, uranium and nickel across five continents.

The other key executive is Alisdair Cooke who has over 27 years’ experience in the resource exploration and mining industry throughout Australia and internationally, initially as part of BHP Minerals Business Development Group.

Cooke has spent the past 20 years managing public resource companies as part of the Mitchell River Group, which oversees a strong list of mining operations and resource companies, including African Energy Resources, Exco Resources, Albidon, Panoramic Resources, Caravel Minerals and Mirabella Nickel.

KEY INVESTMENT HIGHLIGHTS

APRIL 11, 2022: Excellent Metallurgical characteristics confirmed At Briggs copper deposit. MAY 12, 2022: Soil sampling confirms potential for larger mineralised system at Briggs. JULY 4, 2022: Alma commits to the Briggs Joint Venture.