Eclipse Metals : PDAC 2022 Presentation

ersonal use only

ASX: EPM

P D A C - G R E E N L A N D D A Y - J U N E 2 0 2 2

ersonal use only

D I S C L A I M E R

Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices reserves or potential growth of Eclipse Metals Ltd, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. This communication includes certain statements that may be deemed "forward looking statements" and information. Actual results and developments may differ materially from those expressed or implied by these forward- looking statements depending on a variety of factors.

Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

The information in this presentation is based on publicly available information, internally developed data and other sources.

No independent verification of those sources has been undertaken and where any opinion is expressed in this document it is based on the assumptions and limitations mentioned herein and is an expression of present opinion only. No warranties or representations can be made as to the origin, validity, accuracy, completeness, currency, or reliability of the information. The Company disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, costs and expenses of whatever nature arising in any way

out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it.

The Company is at an early development and exploration stage and although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and/or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness.

The information in this presentation that relates to Exploration Results and Exploration Targets is based on information compiled and reviewed by Mr. Rodney Dale, Non-Executive Director of Eclipse Metals Ltd. Mr. Dale holds a Fellowship Diploma in Geology from RMIT, is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and has sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported 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. Mr Dale consents to the inclusion in this presentation of the matters based on information in the form and context in which it appears. Additionally, Mr Dale confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

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G R E E N L A N D ' S M E L 2 0 0 7 - 4 5 - I V I T T U U T & G R Ø N N E D A L - I K A

MEL2007-45 comprises:

▪ Historic Ivittuut cryolite mine

only	▪ 120-year mining history
▪ Produced 3.8 million tons of cryolite for use in
	aluminium production (Bondam, J, 1991)
▪ Grønnedal-Ika carbonatite complex
	▪ Known to host rare earth elements (REE)
Eclipse identified undiscovered polymetallic potential
use
and acquired licence in January 2021; initial fieldwork
program approved in May 2021
▪ Close to existing infrastructure including:
ersonal	▪	Heliport
	▪	Wharf
	▪	Power station

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P O L Y M E TA L L I C P O T E N T I A L : I N D U S T R I A L M I N E R A L S , R A R E E A R T H S & L I T H I U M

Ivittuut and Grønnedal-Ika found to contain:

only	1.	Industrial minerals in existing Ivittuut pit:
	▪	Cryolite
	▪	Fluorite
	▪ High silica-grade quartz (99.9% SiO2) (ASX release 6
use			April 2022)
	▪	Zinc and Iron
	2.	REE mineralisation:
		▪ In and surrounding Ivittuut pit
		▪	At Grønnedal prospect
ersonal		▪ REE is increasing in demand due to new technology
		uses (electric vehicles, electronics)
	3.	Lithium potential
		▪ Grab samples return up to 430ppm Li2O (refer ASX
			release 23 March 2022)
	4.	Tailings and dumps stockpiles - short-termcashflow
		opportunity

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E X P L O R AT I O N P O T E N T I A L AT G R Ø N N E D A L

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use▪

▪ ersonal

Grønnedal-lkacontains a source of carbonatite minerals and rare earth elements

Carbonate rock is suitable for neutralising acid mine and process

water - needed for Greenland's mining industry

Eclipse could ship carbonate from existing Grønnedal port Grønnedal is a prime REE target in Greenland

Grønnedal-lka complex has potential for at least two types of deposits:

• REE mineralisation occurs through the complex, especially in the late-stage veins where it occurs as various strontium REE carbonate minerals.
• Carbonatite body is 2km by 1km, offering potentially large tonnages of carbonate rock.

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