Aguia Resources : Managing Director's Presentation to Shareholders

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2021 ANNUAL GENERAL MEETING

MANAGING DIRECTOR'S PRESENTATION

onlyuse ersonalAnnual

DISCLAIMER

• This document has been prepared as a summary only and does not contain all information about Aguia Resources Limited (the "Company"), assets and liabilities, financial position and performance, profits and losses, prospects and the rights and liabilities attaching to the Company's securities. This document should be read in conjunction with any public announcements and reports (including financial reports and disclosure documents) released by Aguia Resources Limited. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the Shares, or that there will be an increase in the value of the Shares in the future. Further details on risk factors associated with the Company's operations and its securities are contained in the Company's prospectuses and other relevant announcements to the Australian Securities Exchange.
• This document includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events. Statements containing the words "believe", "expect", "intend", "should", "seek", "anticipate", "will", "positioned", "project", "risk", "plan", "may", "estimate" or, in each case, their negative and words of similar meaning are intended to identify forward-looking information. By its nature, forward-looking information involves known and unknown risks, uncertainties and assumptions concerning, among other things, the Company's anticipated business strategies, anticipated trends in the Company's business, that could cause actual results or events to differ materially from those expressed or implied by the forward- looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. In addition, even if the outcome and financial effects of the plans and events described herein are consistent with the forward-looking information contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. There may be factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Forward-looking information contained in this document is based on the Company's current estimates, expectations and projections, which the Company believes are reasonable as of the current date. The Company can give no assurance that these estimates, expectations and projections will prove to have been correct. You should not place undue reliance on forward-looking information, which is based on the information available as of the date of this document. Forward-looking information contained in this document is made of the date of this document and, except as require by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances. Although the company believes that its expectations reflected in the forward- looking statements are reasonable, such statements are subject to significant business, economic and competitive uncertainties and contingencies associated with exploration and/or mining which may be beyond the control of the Company which could cause actual results or trends to differ materially, and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements include but not limited to price fluctuations, exploration results, reserve and resource estimation, environmental risks, physical risks, legislative and regulatory changes, political risks, project delay or advancement, ability to meet funding requirements, factors relating to property title, dependence on key personnel, share price volatility, approvals and cost estimates, the potential that the Company's projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company's published material. The Company makes no representations as to the accuracy or completeness of any such statement of projections or that any forecasts will be achieved.
• Additionally, the Company makes no representation or warranty, express or implied, in relation to, and no responsibility or liability (whether for negligence, under statute or otherwise) is or will be accepted by the Company or by any of their respective officers, directors, shareholders, partners, employees, or advisers as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any interested party or its advisers. In furnishing this presentation, the Company undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. The information contained in this document contains confidential information pertaining to the business, operations and assets of the Company and certain assets being considered for acquisition.
• The Mineral Resource estimate was prepared in accordance with the standards set out in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The JORC Code is the accepted reporting standard for the Australian Securities Exchange Limited ("ASX"). The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Fernando Tallarico, who is a member of the Association of Professional Geoscientists of Ontario. Dr Tallarico is a full-time employee of the company. Dr Tallarico has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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'. Dr Tallarico consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
• The scientific and technical information contained in this presentation pertaining to the Mineral Resource estimate for the Andrade copper deposit has been reviewed and approved by Mr. Guilherme Gomides Ferreira, a Mining Engineer and employee of GE21, registered as a Competent Person in the AIG (Australian Institute of Geoscientists). Mr. Ferreira has sufficient relevant experience to the style of mineralization, mining methods and process to qualify as a Competent Person as defined in the JORC Code (2012). The report compilation was done by Mr. Bernardo H C Viana, a geologist and full-time director and owner of GE21 and is registered as Competent Person in the AIG (Australian Institute of Geoscientists). Mr. Viana has sufficient relevant experience to the style of mineralization to qualify as a Competent Person as defined in the JORC Code (2012). Mr. Viana also meets the requirements of a Competent Person under the AIM Note for Mining, Oil and Gas Companies. Mr. Porfirio Cabaleiro Rodriguez is a Mining Engineer and full-time director and owner of GE21 and is registered as Competent Person in the AIG (Australian Institute of Geoscientists), he has sufficient relevant experience to the style of mineralization to qualify as a Competent Person as defined in the JORC Code (2012). Mr. Viana, Mr. Ferreira and Mr. Rodriguez consent to the inclusion in this report of the matters based on the GE21 study in the form and context in which it appears. They are all independent of Aguia Resources Limited.

General Meeting 30 November 2021

2

WHAT HAPPENED

only	PURCHASE OF A
	CRUSHER that allows
	preparation of bulk test
	samples of DANF
useJUL2020	AUG2020
CONCLUSION OF
ersonal
AGRONOMICAL TESTS on

corn (maize) shows excellent results on the TEPP DANF

DEC2020

TEPP BFS reaffirms

excellent economics. NPV A$70.4 million, IRR 61%

24 NEW EXPLORATION

PERMITS within the Rio

Grande Copper Belt

totaling 37,451 ha - taking the total permitted area to 81,700 ha

JAN2021

FEB2021

Outstanding

METALLURGICAL TEST

results from Andrade Copper

Project Deposit

Updated RESOURCE

ESTIMATE AND SCOPING

STUDY OF ANDRADE

COPPER DEPOSIT. NPV

A$108.1 million, IRR 43.5%

MAR2021

Annual General Meeting 30 November 2021

3

WHAT HAPPENED

only	A$3.75M LOAN
	APPROVED subject to
	conditions precedent to fund
	TEPP CAPEX
use	JUN2021
APR2021
PRIVATE PLACEMENT
ersonal
of A$4 million

Annual General Meeting 30 November 2021

ARCHAEOLOGICAL
CONSENT on the LP for
the TEPP, moving towards			PRIVATE PLACEMENT of
the LI			A$2.55 million
AUG 2021			NOV2021

JUL2021	OCT2021
PUBLIC CIVIL ACTION	MOU SIGNED FOR SALES
from the Federal Public	of Pampafos® from TEPP
Prosecutor

4

COPPER ONGOING

Metallurgical Improvements

•	Bioleaching tests;
only•	Sorting test using pre-concentration techniques.

New Copper & Gold Targets

• Salso: 700m mineralization trend, including 2.67% copper and

use	27.1 g/t silver, located 12km northwest of the Andrade;
• Piriqui: volcanic and sedimentary-hosted mineralization
ersonal	(similar to Andrade) grading up to 1.08% copper, 60km east of
the city of Caçapava do Sul;

• Estuque: historical gold exploration, initial rock sampling returned gold results of up 2.68 g/t Au, located 33km northwest of Andrade.

Annual General Meeting 30 November 2021

ANDRADE COPPER

SCOPING STUDY

post-tax NPV

A$108.01

million

IRR

43.5%

payback

4.1

years

5