#1תכ DESERT METALS Limited Rare Earth Elements Nickel | Copper | Gold Narryer Terrane, Western Australia Investor Presentation October 2022 www.desertmetals.com.au October 2022#2Disclaimer NATURE OF DOCUMENT This presentation has been prepared and issued by Desert Metals Limited (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company and its advisers have not verified the accuracy or completeness of the material contained in this presentation. NOT AN OFFER These Presentation Materials are for information purposes only. The Presentation Materials do not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. The Presentation Materials also do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. NOT INVESTMENT ADVICE The Presentation Materials are not investment or financial product advice (nor tax, accounting or legal advice) and are not intended to be used for the basis of making an investment decision. Recipients should obtain their own advice before making any investment decision. DISCLAIMER No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. FORWARD LOOKING STATEMENTS Certain statements contained in the Presentation Materials, including information as to the future financial or operating performance of the Company and its projects, are forward looking statements. The Company disclaims any intent or obligation to publicly update any forward looking statements, whether as a result of new information, future events or results or otherwise. The words "believe", "expect", "anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward looking statements. All forward looking statements contained in the Presentation Materials are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly recipients are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. Competent Person Statement The information in this announcement that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Dr Rob Stuart, a competent person who is a member of the Australasian Institute of Mining and Metallurgy. Dr Stuart has experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2012 Edition of the Joint Ore Reserves. Dr Stuart is a related party of the Company, being a Director, and holds securities in the Company. Dr Stuart has consented to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Investor Presentation October 2022 www.desertmetals.com.au m#3Desert Metals ASX:DMI OmE 450,000 mE 500,000 mE Desert Metals has a full pipeline of mineral projects in Western Australia including: Recent discovered clay hosted Rare Earth Elements at Innouendy Nickel-Copper-PGE prospects along the craton margin at Innouendy and Dingo Pass Copper-Gold prospects along the Carbar shear at Belele Multiple early stage multi-commodity projects 7,100,000 mN 7,150,000 mN 7,200,000 mN Innouendy Errabiddy Shea Mount Rebecca Fauit 450,000 mE 500,000 mE Dingo Pass Jack Hills Shear Zon 550,000 550,000 mE Belele 600.000 mE GSWA 500k bedrock geology over gravity derived shaded structure, exposed major faults annotated. Investor Presentation October 2022 7,100,000 mN www.desertmetals.com.au mm#4Desert Metals Rare Earth Element Discovery . • . Analysis from the recent drilling program at the Innouendy project in WA confirmed a significant clay-hosted rare earth discovery Desert Metals holds over 1,600 km² in an emerging new REE province TREO intersections within the clay at Innouendy appear to be thick (8-48m) and relatively continuous Step out drilling traverses across 20km of strike length have intersected both thick clays and large volumes of mafic and ultramafic rock Large extent of untested target area for potentially globally significant clay REE mineralisation Excellent recoveries from limited testing to date Assays remain pending for an additional 11,617m A Investor Presentation October 2022 www.desertmetals.com.au כ#5Electrification - Critical Minerals Supply will need to Increase Electrification and the global energy transition is substantially raising demand for certain minerals and metals. 30 Projections for rare earth permanent magnet use in electric vehicles, 2020-2030 • Solar and wind power generation, grid expansion and electromobility (motors and batteries) will be the main drivers for critical minerals • For many materials, the additional quantities are not that significant compared with total consumption; for example, copper and nickel - Some materials - such as rare earth elements and lithium have historically had few significant uses therefore the effect of growth in demand can, in relative terms, be very significant Investor Presentation October 2022 Million motors 10 20 0 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 PM motors Non-PM motors Source: Adapted from Onstad, 2021. Note: Estimates of motors used in battery and fuel cell electric vehicles. Permanent magnet (PM) motors are axial flux per- manent magnets and surface-mounted permanent magnets. Non-PM motors are of the current-excited wound synchronous and induction types. www.desertmetals.com.au mm#6Rare earth elements uses . The sudden REE boom reflects these elements' unique optical and magnetic properties (Adler and Müller, 2014) Roskill (2021) reports that rare earth permanent magnets, magnets, the largest single end use, accounted for 29% of total demand in 2020 By 2030, magnets are predicted to constitute approximately 40% of total demand • Demand for key magnetic REES may far exceed supply by the end of this decade (Alves Dias et al., 2020; Barrera, 2021) 60 144.243 Nd Neodymium [Xe]4f46s2 Lanthanides 59 140.908 Pr Praseodymium [Xe] 4f36s2 Lanthanides Permanent Magnets 38% Catalysts 23% Glass Polishing Powder and Additives 13% Metallurgy and Alloys 8% Battery Alloys 9% Ceramics, Pigments and Glazes 5% Phosphors 3% Other 4% 65 158.925 Tb Terbium [Xe] 4f⁹6s² Lanthanides 66 162.500 Dy Dysprosium [Xe] 4f16s2 Lanthanides. Investor Presentation October 2022 Source: https://www.nrcan.gc.ca/our-natural-resources/minerals-mining/minerals-metals-facts/rare-earth-elements-facts www.desertmetals.com.au m#7Production- Rare Earth Elements 70% 60% 60.63% 50% Share of global production 40% 30% ..... 20% 10% 0% China 15.52% United States 9.38% 7.94% 2.89% 1.15% 1.05% 0.97% Myanmar Australia Thailand Madagascar India 0.18% 0.14% 0.04% 0.11% Russia Brazil Vietnam Burundi Rest of world © Statista: Investor Presentation October 2022 https://www.statista.com/statistics/270277/mining-of-rare-earths-by-country/ China produced more than half of the total global rare earth oxide in 2021- 168,000 tonnes Australia's production comes from Lynas Mt Weld mine in Western Australia www.desertmetals.com.au mm#8Production- Rare Earth Elements Mine production of rare earth elements worldwide from 2010 (in 1,000 metric tons REO) Production in thousand metric tons of REO 350 300 250 200 150 100 50 133 130 129 132 123 111 110 110 190 220 240 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020* 2021 Additional Information https://www.statista.com/statistics/270277/mining-of-rare-earths-by-country/ Investor Presentation October 2022 280 ©Statista 2022 Show source + H GE Production (Tonnes) 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 2000 2003 2005 2007 2009 2011 2013 2015 2017 2019 (p) China Rest of world Production of rare earth elements more than doubled between 2010 and 2021 from 133,000 tonnes in 2010, to an estimated 280,000 tonnes in 2021. The United States was the world's largest supplier of REES until the emergence of China in the mid-1990s. China was virtually the world's sole REE supplier until 2012, when the US producer Molycorp Inc. and the Australian company Lynas Rare Earths Ltd. started commercial production. www.desertmetals.com.au mm#9Rare Earth Oxide Prices Rare earth oxide prices PRODUCT (OXIDE) (% PURITY) 2017 2018 USD/KG 24 DECEMBER 2021 Scandium 99.990 4600 4600 836 Yttrium 99.999 3 11.9 Lanthanum 99.500 2 2 Cerium 99.500 1.5 Praseodymium 99.500 65 63 140 Neodymium 99.500 50 50 143 Samarium 99.500 2 2 4.5 Europium 99.990 77 53 32 Gadolinium 99.999 37 44 76.2 Terbium 99.990 501 455 1720 Dysprosium 99.500 187 179 452 Note: Products are listed in order of atomic number. Prices depend on purity; data on similar purities from different sources have been combined. The source for the data on scandium is Stanford Metals Corporation. The source for all other elements is Argus Media Group - Argus Metals International. The source of the December 2021 data is ISE (2021). Investor Presentation October 2022 www.desertmetals.com.au mm#10IRON CLAY MONAZITE BASTNAESITE MINERAL Clay versus Hard Rock REE Summary of leaching technologies in primary rare earth elements production PROCESS/STEPS REE YEILD REMARKS STATUS 1. Hydrochlorid acid (HCI) leaching to remove non REE carbonate 85-90% II. Calcination of esidue to form rare earth oxide The oldest way to producte bastnaesite concentrates. Outdated 1. Digestion with nitric acid (HNO) or sulphiric acid (H,SO) 1. Roast at 620°C to drive of carbon dioxide (CO2) II. 30% HCI leach I. Alkine conversion rare-earth metal- fluoride REF, to rare-earth hydroxide RE(OH), II. 30% HCL leach 1. Sulphiric acid roast II. Sodium chloride solution leach III. Precipitation as sodium double sulphates 1. Digestion in hot sulphiric acid (H_SO) 98% •Acid choice depends on further processing: solvent extraction to nitric acid (HNO) precipitation to sulphiric acid (H,SO) Outdated • Cerium+Ill oxidises to cerium+IV during roasting will not leach REE fluorides Outdated • Residue is marketable •Process can be preceded with hydrochlorid acid leach to extract REE In use carbonates before alkaline conversion. Precipitates are converted to chlorides for further purification with solvent extraction. In use •Process conditions determine what is leached: only light REE or light + heavy Outdated REE+thorium • Cerium cannot be leached if manganese is present 1. Digestion in hot 60-70% sodium hydroxide II. Washing residue with hot water 98% III. Leach with mineral acid of choice •Thorium is leached together with REE Trisodium phosphate (Na_PO) is In use marketable by-product 1. Heat under reducing and sulphidising Requires no fine grinding atmosphere with calcium chloride (CaCl,) and calcium carbonate (CaCO,) 89% II. Leach with 3% HCI •Thorium does not leach, remains in residue as thorium dioxide (Tho₂) No manganese problem In use I. Salt leach with ammonium sulphate (NH),SO, 80-90% Targets physisorbed REE through cation exchange In use I. Leach with saltwater 40% •Inefficient but cheap process Research & development Advantages of clay deposits Project location Geographic distribution of resources and production Element composition Rare earth element assemblage and concentration Extraction intensity Relative operating costs Exploration dynamics Cost and time Mine development Capital expense Clay REE Dominated by Asia, specifically China and Myanmar Both light (Nd and Pr) and heavy (Tb and Dy) rare earth elements typically exist Low Inexpensive aircore drilling into soft sedimentary material for swift exploration Low Shallow deposits, progressive mining and rehabilitation Hard Rock REE Mainly China, also projects in Australia and the U.S. of America Predominately light rare earth elements (Nd, Pr) High Costly, hard rock diamond drilling required for slower, expensive exploration High Large open pit with large operating fleet and costly closure Processing Style and environmental impact Simple, proven, low acid metallurgy with inert tailings and solvent recycling Complex metallurgy, high temperatures and pressures, strong acids and often radioactive tailings •Dissolves entire clay 1. Acid leach with strong acid (pH<1) 100% Not used Source od6metals.com.au •Incurs significant additional costs Source: Peelman et al., 2014. www.desertmetals.com.au m#11Innouendy Innouendy Rare Earth Elements Opal Bore Desert Metals is advancing its Significant Clay hosted Rare Earth Element Discovery at Innouendy Significant Total Rare Earth Oxide (TREO) intercepts include: • • • • • • • • • • • • • • • • 20m @ 2139ppm from 16m (incl 4m @ 4376ppm) hole 27 8m @ 2734ppm from 24m (incl 3m @ 4104ppm) hole 80 12m @ 1404ppm from 8m (incl 4m @ 2786ppm) hole 25 20m @ 1187ppm from 28m (incl 4m @ 2428ppm) hole 4 20m @ 1195ppm from 28m (incl 4m @ 2185ppm) hole 5 21m @ 1176ppm from 4m (incl 12m @ 1490ppm) hole 136 16m @ 1347ppm from 28m (incl 8m @ 2085, incl 4m @ 2791) hole 130 48m @ 665ppm from 20m (incl 8m @ 1209ppm) hole 70 28m @ 965ppm from 12m (incl 16m @ 1255ppm) hole 140 28m @ 855ppm from 4m (incl 8m @ 1311ppm) hole 137 28m @ 607ppm from 44m (incl 8m @ 1122ppm) hole 69 8m @ 1429ppm from 20m (incl 4m @ 2040ppm) hole 138 8m @ 1325ppm from 12m (incl 4m @ 1771) hole 134 8m @ 1111ppm from 12m (incl 4m @ 1674ppm) hole 77 8m @ 1051ppm from 12m (incl 4m @ 1270ppm) hole 78 8m @ 1020ppm from 32m (incl 4m @ 1125ppm) hole 72 Investor Presentation October 2022 7167500 Irrida Irrida East Hill Dingo Pass 452500 455000 457500 460000 462500 465000 467500 470000 7152500 7155000 7157500 7160000 7162500 7165000 CODO O commodo 000 à 0000000 Hooper Belele ✔ A 7167500 7165000 7162500 Location of aircore and RC holes at Innouendy. Red collars previously reported, white collars from current program with analysis pending. Current drilling program extends across greater than 20km. Background image Sentinel RGB =432 ternary image. 71600007157500 7155000 7152500 452500 455000 457500 460000 462500 465000 467500 470000 www.desertmetals.com.au mm#12• • Innouendy Rare Earth Elements - First assay results from the initial 1,128m of a 12,745m aircore and RC drilling program have been received and confirm the presence of thick and continuous rare earths mineralisation lying close to surface and indicating a potentially significant mineralised system Clays which host the mineralisation start close to surface and have been intersected up to 80m thick in parts. Step out drilling traverses have intersected the prospective horizon across a strike length greater than 10km Assays remain pending for a further 11,617m. The mineralisation assayed to date is showing encouraging grades over significant widths from close to surface. The drill program extends over a 20km area. Once all assays are compiled, a more expansive drill program will test the extent of this new discovery and move towards defining a resource. Encouragingly, 8m thick intercepts of greater than 1100ppm TREO are still encountered at the Cattle Yard nickel prospect ~4km to the southwest suggesting potential for significant lateral extent to the clay hosted mineralisation. Investor Presentation October 2022 7155000 7156000 7157000 7158000 7159000 7160000 7161000 7162000 7163000 7164000 7165000 7166000 7167000 71680007169000 457000 458000 459000 460000 461000 462000 463000 464000 465000 466000 Hole INAC027, 20m @ 2139 incl 4m @ 4376ppm TREO фосфосоросовес Innouendy Project Holes INAC069-083 000000do as GOOD 00000000000 DODD bo Holes INAC129-143 000 1000 (meters) 00000 00000000000000 000 oo hoog o 00000006 jopa op 000000 Cattle Yard Prospect 7 Holes previously reported including Hole INAC036, 9m@ 1605ppm TREO Hole INAC035, 7m @ 1515ppm TREO Hole INAC037, 20m@ 746ppm TREO Remainder awaiting assays 71690007168000 7167000 7166000 7165000 7164000 7163000 7162000 7161000 7160000 7159000 7158000 7157000 7156000 7155000 457000 458000 459000 460000 461000 462000 463000 464000 465000 466000 Figure 1. Assays reported from holes INAC 069-083 and INAC129-143 shown with white background (See Figure 2 for sections). Assays are pending for all other holes apart from the partial sampling previously reported. Background Image- Radiometric thorium count from airborne spectrometer. Primary minerals containing rare earth elements often contain thorium. Radiometric thorium, along with early time EM data, can be used in the targeting process to help identify thick clays with the potential for high-grade ionic rare earths. tals.com.au mm#13Innouendy Rare Earth Elements • Selected samples analysed by Lithium borate fusion, ICP-MS finish were re-analysed by weak acid (Aqua Regia) digest to test the level of REE's that can be easily leached. Section 7160400N NACO77 INACOSO INAC079 INAC078 INACO81 460500 E INAC076 • Recoveries were particularly good (>80%) for the high-grade zones of high value REE's (ASX:DM1 15 June 2022) and confirm the economic significance of the thick high-grade intersections. • Development scenarios would likely be lower capex given the ease of extracting the minerals via simple leach. Investor Presentation October 2022 Section 7160000N INAC149 INAC150 INAC148 INAC 147 INAC146 INACI INAC144 460500 E INACO75 NAC073 NACOT INAC072 INACO70 INACO71 461000 E 461000 E NAC143 NAC 142 INAC 139 NAC141 INAC140 INAC138 INAC136 INAC137 INAC135 INAC133 INAC130 INAC134 INAC132 400 RL INAC 131 INAC129 INAC121 INAC125 INAC 128 INAC124 INAC126 INAC 122 INAC123 INAC121 1000 500 200 100 50 ppm TREO Vertical Exaggeration 5:1 461500 E 350 RL 461500 E 400 RL Figure 2. Total Rare Earth Oxides from two sections of assays received to date. Red drill traces = assays not yet received. TREO intersections within the clay appear to be thick and relatively continuous from the limited results received. 350 RL www.desertmetals.com.au mm#14Dingo Pass Ni-Cu-PGE'S • - Dingo Pass just inboard of craton margin on major cross craton structure. Magnetic dome feature with a cluster of extremely high conductance EM targets and coincident soil anomalies [Ni, Cu, PGE's] An AEM survey flown in 2021 by the Company identified 8 target zones across the package • Ground EM surveying subsequently confirmed very high conductance discrete bedrock targets • • . Mapping identified that some rocks previously mapped as BIF were mafic intrusives Soil geochemistry highlighted anomalous Ni, Cu, PGE over the "dome" prospect Compelling story emerged → strong conductors, the right rocks, coincident anomalous soil geochemistry Investor Presentation October 2022 Innouendy Opal Bore Dingo Pass target area Dingo Pass Irrida East Irrida Hill Hooper Belele 40km IMAGE: Semi-transparent Tau [time constant] image [EM derived] over aerial photo. RED high time constant [better conductor]. = www.desertmetals.com.au m#15• Dingo Pass Ni-Cu-PGE'S • Initial drilling did not intersect sufficient sulphides to explain the conductors at Dingo Pass. The targets are untested and still "live 7,169,000 mN . • First drilling at Dingo Pass intersected metamorphosed mafic intrusions with traces of disseminated copper (Cu) and nickel (Ni) bearing sulphides, but not enough sulphide or other conductive rock to explain the anomalies (DM1:ASX release 15 June 2022). • • Downhole electromagnetic data (DHEM) has been completed to better define the conductors location Modelling of DHEM confirms the presence of very high conductance bodies and suggests they are off hole from the initial RC drilling. These will now be tested with both RC and diamond holes. 7,168,000 mN 7,167,000 mN Investor Presentation October 2022 +521,000 mE DRC007 DRC006 DRC005 +522,000 mE +523,000 mE DRC001 DRC004 DRC002 +524,000 mE Dingo Pass Drill Hole Location Plan. Red squares - location of untested conductors modelled from DHEM www.desertmetals.com.au m DRC003 Ο +525,000 mE#16Belele Innouendy Copper - Gold Opal Bore DM1's RC drilling confirmed presence of greenstone belt and shearing >30km strike of gold prospective sheared greenstone belt 100% concealed under shallow cover and entirely untested Potassic alteration, silicification and sulphide mineralisation consistent with Carbar Shear Zone and analogous to Big Bell style of alteration 150 hole, 12,000m RAB/AC, RC drilling POW approved - will test 15km strike of Carbar Shear Zone 1500 line km detailed magnetics survey required to refine targeting ~1000 line km EM survey required on northern tenement to test for VMS and Nickel massive sulphides Investor Presentation October 2022 Remnantly magnetic intrusions prospective for Ni-Cu-PGES 03 Belele VMS prospect Dingo Pass Irrida East Irrida Hill Hooper Belele Carbar Shear Zone ("Big Bell" Structure) Proposed RAB/AC drill lines Big Bell" Structure Big Bell (>3Moz) www.desertmetals.com.au Meekatharra m#17Belele Copper - Gold 112 m RC drilling confirmed the presence of the greenstone belt, shearing and conductive copper sulphide mineralisation The entire Belele license which is now known to be underlain by the Mingah Range Greeenstone Belt has become prospective for both VMS and orogenic style gold Additional conductive targets along the license A 3D view looking North at Belele. The conductive plate modelled from EM data is shown in purple. Copper intercepts in red, sulphide in yellow. There is a good correlation between the location of then modelled plate, sulphide mineralisation and copper grade. Section A - A` shown in Figure 2. Investor Presentation October 2022 BRC001 BRC002 BRC003 BRC004 414 m BRC008 100 m BRCOOT 4. A BRC006 200 RC010 BRCOO 617220.1 617350 617400 617450 X 617500 617550 617657 440 150 200 250 300 350 37.9561 A 250 200 BRC004 BRC008 A` 50 m 100 100 150 150 50 m 200 250 300 Lithology Legend Overburden Basalt Dolerite Gabbro Mafic Schist Gneiss Amphibolite Copper Sulphur Modelled EM plate- pre-drilling target 350 400 Hole 4 intersection 44m @ 0.14% Cu, from 140-184m, incl Hole 8 intersection 40m @ 0.11% Cu, from 360-400m, incl 12m @ 0.32% Cu, from 148-160m, incl 21m @ 0.14% Cu, from 360-381m 4m @ 0.51% Cu, from 152-156m 200ppm lower cut-off www.desertmetals.com.au m#18Corporate overview Board of Directors Capital Structure Share Price (18 October 2022) A$/share 0.47 Shares on Issue m 63m Options on Issue m 12.3m Mr Mark Stewart Chairman Market Capitalisation A$m 29.6m Cash (30 June 2022) A$m 3.01m Debt (30 June 2022) A$m Enterprise Value A$m 26.6m Dr Rob Stuart Managing Director Investor Presentation October 2022 Mr Tony Worth Director Mr Keith Murray Non- Executive Director Mr Stewart has over 30 years of international legal and commercial experience, particularly in the resources industry, in Africa, Asia, North America and Australia. He worked as an in-house lawyer for Anglo American plc (Anglo) for over ten years. Mr Stewart has broad commercial experience in the junior mining and resources sector, having worked for junior listed resource companies from 2003 to 2010, including roles as a Non-Executive Director, Managing Director and Chairman of several ASX listed resource companies. Mr Stewart holds a Bachelor of Journalism majoring in Journalism and Law from Rhodes University (South Africa) and a Bachelor of Laws from the University of Cape Town (South Africa). He is a member of the Australian Institute of Company Directors. Dr Stuart is a geoscientist who has worked in mineral exploration for the last 25 years. He has successfully explored for precious and base metals as well as bulk commodities in Australia, North America, Africa, the Former Soviet Union and Asia. He has worked for listed junior explorers and major mining companies. Rob spent 5 years as Program Manager - Minerals Exploration at BHP Billiton where he managed regional exploration for Russia and Central Asia exploring for Copper, Nickel and Metallurgical coal. Prior to that he was Program Manager for near mine exploration at BHP Billiton / Nickel West in Western Australia. Mr Worth is a geologist and business development consultant with 25 years experience. He has worked in Australia, Africa, North America and South America on a wide range of commodities and deposit styles. Mr Worth has a broad range of experience across all aspect of the minerals exploration industry, from target generation, exploration management, field programs implementation, through to commodity market analysis, joint venture negotiations and project acquisitions. Mr Worth is currently Exploration Group Consultant - New Business, with First Quantum Minerals. He has also held the position of Director of Alamar Resources Ltd Mr Murray is a Chartered Accountant with extensive knowledge and experience built up over 40 years at General Manager level in audit, accounting, tax, finance, treasury and corporate governance. Mr Murray's experience in mining extends to the 1990's during which time he was Group Accounting Manager Corporate and Taxation, and joint Company Secretary for Eltin Limited, a leading Australian based international mining services company. Mr Murray is currently General Manager Corporate and Company Secretary for Heytesbury, the privately owned Holmes à Court family company group in Western Australia. www.desertmetals.com.au m#19Desert Metals Outlook • Defining a new clay hosted Rare Earth Element Discovery ⚫ First mover status in emerging Ni-Cu province • Focus on Innouendy, Dingo Pass and Belele projects ⚫ Numerous secondary targets Substantial leverage to exploration success on any one project. Low number of shares on issue • Highly technical and experienced Western Australian explorer Investor Presentation October 2022 Western Australia New Clay Hosted REE Discovery Drill ready targets in an emerging Ni-Cu province 83804 www.desertmetals.com.au m#20m DESERT METALS Limited Contact us ROB STUART Managing Director Phone Email +61 8 97581333 [email protected]