#1AIC Mines Limited Investor Presentation June 2019 1#2Disclaimer AIC Mines Limited This presentation has been prepared by AIC Mines Limited ("the Company" or "AIC Mines") to provide summary information about AIC Mines and its activities at the date of this presentation. The information contained in this presentation does not purport to be complete, and it should be read in conjunction with AIC Mines' other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au, www.aicmines.com.au and www.aicresources.com.au. This presentation contains forecasts and forward looking statements which are not a guarantee of future performance and which involve certain risks. Actual results and future outcomes may differ from those outlined herein. The presentation should not be construed as an offer or invitation to subscribe for or purchase securities in AIC Mines. The information contained in this document has been prepared in good faith by AIC Mines, however no guarantee representation or warranty expressed or implied is or will be made by any person (including AIC Mines and its affiliates and their directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this document. To the maximum extent permitted by law, AIC Mines and its affiliates and their directors, officers employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. Statements in this document are made only as of the date of this document unless otherwise stated and the information in this document remains subject to change without notice. No responsibility or liability is assumed by AIC Mines or any of its affiliates for updating any information in this document or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which AIC Mines and any of its affiliates or advisers may become aware. Forward looking statement Certain information in this document refers to the intentions of AIC Mines, but these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of the events in the future are subject to risk, uncertainties and other actions that may cause AIC Mines' actual results, performance or achievements to differ from those referred to in this document. Accordingly AIC Mines and its affiliates and their directors, officers, employees and agents do not give any assurance or guarantee that the occurrence of these events referred to in the document will actually occur as contemplated. Statements contained in this document, including but not limited to those regarding the possible or assumed future costs, performance, dividends, returns, revenue, exchange rates, potential growth of AIC Mines, industry growth or other projections and any estimated company earnings are or may be forward looking statements. Forward-looking statements can generally be identified by the use of words such as 'project', 'foresee', 'plan', 'expect', 'aim', 'intend', 'anticipate', 'believe', 'estimate', 'may', 'should', 'will' or similar expressions. These statements relate to future events and expectations and as such involve known and unknown risks and significant uncertainties, many of which are outside the control of AIC Mines. Actual results, performance, actions and developments of AIC Mines may differ materially from those expressed or implied by the forward-looking statements in this document. Such forward-looking statements speak only as of the date of this document. There can be no assurance that actual outcomes will not differ materially from these statements. To the maximum extent permitted by law, AIC Mines and any of its affiliates and their directors, officers, employees, agents, associates and advisers: ⚫ disclaim any obligations or undertaking to release any updates or revisions to the information to reflect any change in expectations or assumptions; . do not make any representation or warranty, express or implied, as to the accuracy, reliability or completeness of the information in this document, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and • disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence). Not financial product advice This document does not it constitute financial product advice or take into account your investment objectives, taxation situation, financial situation or needs. This document consists purely of factual information and does not involve or imply a recommendation of a statement of opinion in respect of whether to buy, sell or hold a financial product. An investment in AIC Mines is considered to be speculative in nature. Before making any investment decision in connection with any acquisition of securities, investors should consult their own legal, tax and/or financial advisers in relation to the information in, and action taken on the basis of, this document. No new information or data Information relating to the exploration results in respect of the Marymia project is extracted from the ASX announcements released by AIC Mines subsidiary AIC Resources (ASX: AIC) titled "Quarterly Report for the Quarter ended 31 December 2017" dated 13 January 2018; "Quarterly Report for the Quarter ended 30 September 2018" dated 19 October 2018; and "Drilling Results from Two Pools and Marymia North East" dated 14 January 2019 and the Company confirms that it is not aware of any new information or data that materially affects the information included in these announcements. 2#3Company Overview E AIC Mines An experienced management team focused on building a new Australian mid-tier gold and copper miner through exploration, development and acquisition Limited ASX Code Share Price¹ Shares on Issue Market Capitalisation Cash and Liquids² A1M Board of Directors 34c Josef El-Raghy Chairman 51.3M Aaron Colleran Managing Director $17.4M Brett Montgomery Non-Executive Director $11.3M Richard Baumfield Non-Executive Director Tony Wolfe Non-Executive Director Substantial Shareholders 75cps Return of Capital Directors Brahman Estate of Lloyd Miller Share Price - 12 Months to 31 May 2019 $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $0.00 1. As at 31 May 2019 2. Cash as at 31 March 2019 (A$8.0M) and liquid investments as at 31 May 2019 (A$3.3M). Does not include the US$4.0M in deferred proceeds from the sale of the Kitumba Project due by 14 August 2019. 22.5% 8.2% 6.4% 3#4The Opportunity AIC Mines Build a portfolio of mines through exploration, development and acquisition Exploration companies are discovering new resources but don't have the capability to build mines Mining companies have not retained development expertise and have lost confidence in building new mines The deposits exist, the expertise exists and the funding is available however very few companies are successfully bringing all three together Portfolio approach Start small Use stepping stones Use the benefits of diversity to deliver reliable results A buyer and seller of assets Continue to fill the development pipeline Limited 4#5The Merger with AIC Resources AIC Mines Limited The AIC Mines (previously Intrepid Mines) takeover of AIC Resources closed successfully on 30 April 2019 AIC shareholders were offered 1 AIC Mines share for every 2 AIC shares they held AIC shareholders who accepted the offer should have received their AIC Mines shares on 6 May 2019 AIC shareholders who did not accept the offer will have their AIC shares compulsorily acquired and their new AIC Mines shares issued in early June 2019 The merged company has sufficient funding to underpin the search for acquisition targets and maintain exploration momentum at Marymia 5#6The Current Suite of Prospects Marymia Exploration Project – over 3,200km² Prospective for gold and copper Strategically located within trucking distance of the Plutonic Gold Mine and the Degrussa Copper Mine Limited previous exploration Commenced regional mapping, geophysics and geochemistry Initial drilling completed at Doolgunna, Marymia NE and Two Pools prospects GEOLOGICAL MAP OF WESTERN AUSTRALIA 2015 Gold Prospects Two Pools Marymia NE 4G Hill Copper Prospects Doolgunna JV Copper Hills AIC Mines Limited Marymia Project located 160km south of Newman CO 6#7Marymia Project: Advanced Prospects 700,000 ME 0 20 kilometres NORTH TWO POOLS Successful initial RC drilling campaign completed in 2018 (5,196m) • MRC688 2m @ 3.48 g/t from 51m • MRC691 1m @ 16.29 g/t from 238m • MRC692 6m @ 1.87 g/t from 28m • MRC693 5m @ 1.91 g/t from 51m; and 8m @ 3.90 g/t from 83m (incl. 2m @ 30.18 g/t) MRC694 3m @ 2.90 g/t from 1m • MRC699 1m @ 4.18 g/t from 95m . MRC701 11m @ 5.29 g/t from 66m (incl. 3m @ 18.53 g/t) • MRC702 1m @ 3.28 g/t from 65m • MRC703 1m @ 3.49 g/t from 67m; and 12m @ 8.82 g/t from 79m (incl. 3m @ 33.85 g/t) MRC711 5m @ 1.22 g/t from 174m 7,200,000 MN + • Hermes 700,000 ME . DeGrussa 750,000 ME To Newman ⚫ Plutonic • Monty 750,000 mE • Trident 800,000 mE + 7,250,000 mN AIC Mines Limited Marynia Mining den MARYMIA NE Initial RC drilling completed in late 2018 (4,694m) MRC670 12m @ 1.63 g/t from 193 (incl. 8m @ 2.34 g/t) MRC678 13m @ 1.79 g/t from 84m (incl. 5m @ 4.37 g/t) • Thaduna + 7,200,000 mN 800,000 ME Projection: MGA Zone 50 (GDA 94) 7#8Marymia Project: Greenfield Prospects Copper Hills Rock chips incl. 9.69 % Cu (+1.14 g/t Au), 6.4% Cu, 2.75% Cu Mapping suggests Copper Hills schist represents sheared contact with mafic and intrusive granites to the north 250,000 mN 700,000 mE 750,000 ME 0 20 kilometres NORTH To Newman Trident 800,000 ME Marynia Mining Centre 7,200,000 mN Plutonic 4G Hill . • Rock chips incl. 387 g/t Au with visible gold in rock chip 4.08 g/t soil sample Negligible previous gold exploration Previously drilled for iron within sedimentary iron formations. • Detailed mapping and sampling in progress • Hermes 700.000 mE MiaMia Belt DeGrussa • Monty 750,000 mE Conceptual Greenstone Belt ⚫ Thaduna Microscopic native copper in petrology 800,000 ME Projection: MGA Zone 50 (GDA 94) Thick mafic/ultramafic greenstone sequences from mapping. and historic drilling for diamonds • No previous gold exploration E AIC Mines Limited Termite Mounds Distinct geochemical patterns suggest anomalous contact between granite and metasediment Glover Table Top Belt . Conceptual greenstone Mafic/ultramafic recorded beneath ~40m shale in historic RAB drilling Pinnyriny . • Abundant greenstone Broad geochemical anomaly 8#9www.aicmines.com.au E AIC Mines Limited 9