Investor Presentaiton

Disclaimer and Important Notes No Liability . • This Investor Presentation has been prepared based on information available to it at the time of preparation and from sources believed to be reliable. PNX Metals Limited (the "Company" or "PNX") makes no representation that it has verified the information. No representation or warranty is made that the information in this presentation is complete or comprehensive and does not purport to summarise all information relevant to the Company. It should be read in conjunction with the Company's other periodic and continuous disclosure announcements and you should conduct your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. The information contained in the Investor Presentation is general information only and it is not intended to be a recommendation by the Company or any of their officers, employees, associated or advisors to invest in the shares. The Investor Presentation must not be relied upon or construed as advice to investors or potential investors and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs. Those individual objectives, circumstances and needs should be considered, with professional advice, when deciding whether an investment is appropriate. No Obligation to Update • . You cannot assume that the Investor Presentation will be updated at any time subsequent to the date of the Investor Presentation. Except to the extent provided by law, the Company does not undertake to advise any person of any information coming to their attention relating to the financial condition, status or affairs of the Company or its related bodies corporate. All references to dollars, cents or $ in this presentation are to Australian currency, unless otherwise stated. Forward Looking Statements • This Presentation may include statements that could be deemed "forward-looking" statements. Although the Company believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or may not take place at all. No Offer to Sell or Invitation to Buy . This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in the Company, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. The Company does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction. Competent Person's Statement • The results reported herein, insofar as they relate to exploration activities and exploration results, are based on information provided to and reviewed by Mr. Charles Nesbitt who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Nesbitt has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Nesbitt is a full-time contract Exploration Manager with PNX Metals Ltd and consents to the inclusion in this report of the matters based on the reviewed information in the form and context in which it appears. Bibliography . PNX confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements noted below and referenced in this presentation and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. PNX confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement (see Appendix at slide 27 for further referenced information). PNZ METALS 2

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