#1ASX:QML 6 May 2021 INVESTOR PRESENTATION Queensland's Next Copper & Gold Developer Mr Daniel Lanskey Managing Director SYDNEY MINING CLUB LEADING EDGE QMINES DEVELOPING MINERAL RESOURCES#2IMPORTANT INFORMATION DISCLAIMER This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This document is neither a prospectus nor an offer to subscribe for Shares. QMines Limited ACN 643 212 104 (QMines) and its directors, officers, employees, advisers, agents and consultants make no representations or warranties as to the accuracy, reliability or completeness of this document including the accuracy or attainability of any forward-looking statements, and have no liability, including liability to any person by reason of negligence of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded. EXPLORATION The information in this document that relates to mineral exploration and exploration targets is based on work compiled under the supervision of Mr Hamish Grant, a member of the Australian Institute of Geoscientists (AIG). Mr Grant is QMines' principal geologist and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (JORC 2012 Mineral Code). Mr Grant consents to the inclusion in this document of the exploration information in the form and context in which it appears. COMPETENT PERSON The information in this document that relates to the Mineral Resource Estimate and Exploration Targets is based on information compiled by Mr Simon Tear, a member of the Australian Institute of Mining and Metallurgy. Mr Tear is a director and consultant geologist with H&S Consultants Pty Ltd and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to be a Competent Person for the reporting of Mineral Resources according to the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Tear consents to the inclusion in this document of the information relating to Mineral Resources and exploration information in the form and context in which it appears. MT CHALMERS COPPER GOLD PROJECT The historical exploration results in relation to the Mt Chalmers project contained in this document have been validated and reported in accordance with the JORC 2012 Mineral Code and the Competent Person has undertaken sufficient work to disclose the historical exploration results in accordance with the JORC 2012 Mineral Code. LIMITED HISTORY The Company was recently incorporated on 4 August 2020 and has only limited operating history and limited historical financial performance. Exploration and production has previously been conducted on the area however, the Company is yet to conduct its own exploration activities or had the opportunity to confirm any historical information in relation to these tenements. FUTURE PERFORMANCE land the subject of the tenements, This document contains references to certain targets and plans of QMines which may or may not be achieved. Any forward-looking statements are necessarily based upon a number of estimates and assumptions that, whilst considered reasonable by QMines and the Competent Person, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. The performance of QMines may be influenced by a number of factors, risks and uncertainties, many of which are outside the control of QMines and its directors, officers, employees, advisers, agents and consultants. QMINES DEVELOPING MINERAL RESOURCES 2#3EXECUTIVE SUMMARY OVERVIEW • Queensland based exploration and development company. Owns 100% of 4 advanced copper-gold projects covering 978km². Mt Chalmers total production of 1.24Mt @ 2.0% Cu, 3.6g/t Au and 19g/t Ag¹. Inferred Resource (JORC 2012) at Mt Chalmers 3.9Mt @ 1.15% Cu, 0.81g/t Au & 8.4g/t Ag¹.2 Photos: The Historic Mt Chalmers Copper-Gold Mine. QMINES DEVELOPING MINERAL RESOURCES Location of Projects Mount Morgan 8 Moz Au 420,000 t Cu Cracow 3 Moz Au Roma Mt Chalmers Rockhampton Mount Rawdon 2 Moz Au Queensland Biloela Gladstone Bundaberg Gympie Gympie 5 Moz Au Brisbane Toowoomba Herries Range Warroo Major gold mine Historic gold mine/project New England Orogen 200km New South Wales Warwick Silverwood Stanthorpe QM007 24/10/20 Map: Locations of QMines' projects and other major mines. QMINES DEVELOPING MINERAL RESOURCES 3#4A TEAM THAT DELIVERS "Incentivised management with a track record of generating shareholder returns..." MR ANDREW SPARKE Executive Chairman Assisted numerous ASX listed companies with capital raisings and corporate transactions. Former Director of Alt Resources Ltd (ASX:ARS), Torian Resources Ltd (ASX:TNR) and Landstead Investors Pty Ltd, a UK founded investment fund. Managing Director of Olive Capital Pty Ltd, an Australian based boutique corporate advisory firm. Holds a Bachelor of Business (Marketing) a Masters in Finance and is a graduate member of the AICD. MR JAMES ANDERSON General Manager Operations Significant operational experience of ASX listed resources companies. Founder and former CEO of Alt Resources Ltd (ASX:ARS). Alt was recently acquired by a large private equity group generating significant value for shareholders. MR DANIEL LANSKEY Managing Director 20 years experience in the resources, oil and gas and cannabis industries. Former Chairman of Needle Capital Corp, acquired by The Flowr Corporation (TSXV:FLWR). Non-Executive Director of MacArthur Minerals Ltd (ASX:MIO). Founder/MD of Austex Oil Ltd (ASX:AOK) (2006-2014) which grew from start-up to $US30 million in revenue per annum. MS ELISSA HANSEN Non-Executive Director (Independent) & Company Secretary Experience in advising company boards on corporate governance, compliance and investor relations. Chartered Secretary with strong governance and compliance skills. Director and/or Company Secretary of a number of public, listed and private companies QMINES DEVELOPING MINERAL RESOURCES . .#5CORPORATE OVERVIEW* Enterprise Value (Post IPO): $22.3m SHAREHOLDER BREAKDOWN ASX Code QML Shares on Issue 110.5m 43% Options on Issue 4.2m Market Capitalisation $33.2m Cash at Bank (IPO $10.9m 35% 9% Closing) 13% Enterprise Value ($0.30) $22.3m * The Company issued 38,493,696 at $0.30 for gross proceeds of $11,548,106 for its IPO. * Options have an exercise price of $0.375 and a 3 year term from listing. Rounding errors may occur. Founders & Directors Seed Investors IPO Investors Project Vendors QMINES DEVELOPING MINERAL RESOURCES 5#6MT CHALMERS PROJECT OVERVIEW • Located 17km North-East of Rockhampton, Queensland. QMines owns 100% of the project that comprises 198km². Includes the historic Mt Chalmers copper-gold mine. EXISTING RESOURCE Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag.1.2 • This equates to a Copper Equivalent Resource of 73,000t Cu @ 1.87%.* -23°15'S EPM 27697 Yeppoon Railway 150°45'E Mount Chalmers Queensland Rockhampton Brisbane- Parkhurst Fault JIM CROWE BASIN Tungamull Fault EPM 27726 Kays Mount Chalmers Mine Woods Shaft New Zealand Gully Goldfield Disused EPM 25935 Mount Wheeler Goldfield Constitutional Hill Goldfield Annie-Cawarral Goldfield Mount Warminster Botos Keppel Sands ROCKHAMPTON EPM 27726 Cawarral Gold Trend Curlew Hill EPM 27428 EXPLORATION TARGETS** Three Exploration Targets at Woods Shaft, Botos and Mt Warminster. The Exploration Targets have been generated from surface mapping and historic drilling data. * Metals price assumptions for copper equivalent estimates are US$6,655/t Cu, US$1,900/oz Au and US$25/t Ag. Exchange rate is AUD$0.70. Assumed metallurgical recoveries of 90% for gold and 50% for silver. ** Exploration Targets are reported in accordance with the JORC 2012 Code & Guidelines. Quaternary Alluvium Mount Hediow Trachyte Allons Downs Basalt Gabbro and Diorite Elirott Rhyolite Sleipner Andesite Chalmers Fm sedimentary & volcanic Rockhampton Gp-sedimentary 10km Fitzrov CASUARINA BASIN Curtis Island Gp-sedimentary Cawarral Sepentinite Belt Undifferentiated other units QMines Tenement Granted QMines Tenement Application Major Faults Approximate limit of basin Historic gold, silver, copper or zinc mine/prospect Thompsons Point River QMINES MINERAL RESOURCES Mt Chalmers Project Tenure, Geology and Infrastructure QM005 2/02/21 Mt Chalmers Tenure, Geology, Infrastructure & Location. QMINES DEVELOPING MINERAL RESOURCES 6#7MT CHALMERS PROJECT Processing Plant Removed + Rockhampton Port Alma Location of the Mount Chalmers mine amongst regional deposits and key infrastructure. Mount Morgan Heritage Minerals Cracow Aeris Resources Limited (ASX:AIS) QM025 4/02/21 Mount Chalmers QMines Limited Gladstone QMINES DEVELOPING MINERAL RESOURCES Regional Mines and Infrastructure Mt Chalmers Project Queensland Map Area + Bundaberg Mount Rawdon Evolution Mining Limited (ASX:EVN) 0 50km Brisbane QMINES DEVELOPING MINERAL RESOURCES 7#8MT CHALMERS PROJECT REGIONAL PROSPECTIVITY 3 JORC 2012 Exploration Targets * QMines Prospectus, Annexure A, Independent Geologist Report, pages 93-104. 260000mE Historical Soils by Cu (ppm) Mineral Occurance -5-20 • Copper 20-85 ° Gold EPM 27697 85-220 ◆ Manganese 220-540 • >540 -7430000mS EPM 27726 -7425000mS -7420000mS 4 12 Prospects Priority Drill Lithology Targets Tungamull Fault Mt Wheeler Constitution Hill Cawarral EPM 25935 Hunter 이 Mt Warminster Mt Chalmers NW Mt Chalmers Pit Woods Shaft Botos Cawarral Gold Trend D 265000mE Sand (Holocene) New Zealand Gully North Unconsolidated Sediments (Holocene) Alluvium (Quaternary) New Zealand Gully Colluvium (Quaternary) Mount Hedlow Trachyte (Cretaceous) Yarrol Gabbro (Early Triassic) Yarrol Andesite (Early Triassic) Yarrol Rhyolite (Early Triassic) Warminster Sandstone (Late Permian) Sleipner Member (Early Permian) Chalmers Formation (Early Permian) Elrott Rhyolite (Early Permian) Balnagowan Volcanics (Devonian) Wandilla Formation (Devonian) Serpentinite (Neo Proterozoic) Structure Fault Fault approximate Fault concealed 0 New Zealand Gully SE Striker 1 QMines EPM ERM 25935 Striker 2 2km EPM 27726 EPM 27428 QMines Application QMines Granted Historic Drillhole Collar Historic Pit Outline Prospects QMINES DEVELOPING MINERAL RESOURCES Mount Chalmers Project Drilling, Geology & Geochemistry QM031 19/01/21 Mt Chalmers Project Drilling, Geology & Geochemistry. QMINES DEVELOPING MINERAL RESOURCES 8#9MT CHALMERS PROJECT 4800mN A 4850mE 4900mN 4950mN 5000mN PDH0084 [email protected]/t Au 3.69% Cu DDH0025 DDH0031 DDH0027A DDH0048 PDH0001 Pre Mining DTM PDH0143 PDH0143 PDH0015B -2100mRL [email protected]/t Au 0.70% Cu -2050mRL PDH0178 DDH0028 8m @4.01g/t Au 2.09% Cu DDH0008 [email protected]/t Au 2.64% Cu PDH0038 9m @ 1.35g/t Au 0.90% Cu 7m @ 3.7g/t Au 4.94% Cu 16m @0.79g/t Au 0.79% Cu [email protected]/t Au 1.38% Cu 8m @11.58g/t Au 4.86% Cu 13m @ 1.74g/t Au 0.81% Cu [email protected]/t Au 1.44% Cu [email protected]/t Au 2.95% Cu 26m @7.56g/t Au 2.97% Cu [email protected]/t Au 1.49% Cu [email protected]/t Au 0.22% Cu [email protected]/t Au 1.52% Cu 13m @2.59g/t Au 1.25% Cu QMINES DEVELOPING MINERAL RESOURCES Mt Chalmer West Lode 0 20m Long Section View WNW QM017 11/09/20 Long section through the Mt Chalmers West Lode showing drillhole intersections and the high-grade nature of the Mt Chalmers ore body. QMINES DEVELOPING MINERAL RESOURCES 9 * QMines Prospectus, Annexure A, Independent Geologist Report, pages 88-106.#10MT CHALMERS PROJECT Maiden Diamond Drilling Program at Mt Chalmers. . EXPLORATION UNDERWAY Maiden Diamond Drilling Program - Completed May 2021 • 11 holes drilled totaling 1,574 meters. . Maximum depth to 237 meters. • Average depth 143 meters. • First assay results expected Q2-2021. RC Drilling Program - Commencing May 2021 • • Rockhampton based drilling company engaged. Phase 1 to include approximately 3,000 meters. OMINESt DEVELOPING MINERAL RESOURCES 10#11MT CHALMERS PROJECT QMINES 7421500-000 7421250-000 742100-000 MAIDEN DIAMOND DRILLING PROGRAM - NOW COMPLETE 259750.000 260000.000 MCDD008 MCDD010 MCRCDD011 MCDD009 MCDD007 MCDD002 MCDD003 MCDD001 MCDD006 260250 000 421500.000 MCDD005 MCDD004 7421250.000 OPEN MCDD001 PDH37 MCDD002 PDH154 MCDD003 FRD011 MCDD008 FRD018 MCDD005 FRD005 MCDD004 FRD005 MCDD006 PDH0055 MCDD009 FRD015 MCDD007 FRD020 MCDD010 FRD026 MCRCDD011 n/a Stringer Cu/Au Mineralisation OPEN 160 7421000,000 QMINES DEVELOPING MINERAL RESOURCES Mt Chalmers Long Section DD Twin Drilling 0 100m Twinned Diamond Drillhole Trace, Hole Depths And Mineralised Wireframes. 75 150 m 260000.000 2602 50.000 259500.000 259750.000 Plan View of Diamond Drillhole Collar Locations, Mt Chalmers project. 158 159 OPEN Massive Cu/Au Mineralisation 190 QMINES OPEN QM037 29/04/21 DEVELOPING MINERAL RESOURCES 11#12ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) OVERVIEW . QMines strategy involves seeking to become Australia's next copper and gold developer. . . The Company is committed to achieving this goal whilst maintaining strong ESG practices. This includes our aim of becoming Australia's first zero carbon copper and gold explorer. ESG INITIATIVES I Climate Active Certification Renewal Energy Generation Quarterly ESG Reporting . Coffey International engaged to complete environmental audit at Mount Chalmers. Mt Chalmers Office - Wind, solar and battery powered (off-grid). QMINES DEVELOPING MINERAL RESOURCES 12#13WHY INVEST? Share in our Company's exciting future... 1 High-Grade Historic Producer; 4 Experienced Management; and 2 Existing Resource; 5 Substantial Exploration Potential. 3 Extensive Drilling Program; This announcement has been approved and authorised by the Board of QMines Limited. Notes: 1 Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at https://qmines.com.au/prospectus-2/ 2 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed. Daniel Lanskey Managing Director Mobile: +61 451 558 018 Email: [email protected] Andrew Sparke Executive Chairman Mobile: +61 422 283 022 Email: [email protected] QMINES DEVELOPING MINERAL RESOURCES 13