Kingwest Resources : Resurgence Conference Presentation

ersonal use only

Resurgence Conference Presentation

ASX: KWR

1 December, 2021

Disclaimer

FOR CONSIDERATION

This presentation has been prepared by Kingwest Resources Limited "Kingwest". This document contains background information about Kingwest current at the date of this presentation. The presentation is in summary form and does not purport to onlybe all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this

presentation.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this

prese tation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities involve risks which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Kingwest, its officers, employees, agents and advisors do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, pini ns, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise are accepted.

This presentation may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Kingwest Resources Limited's planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may", "potential," "should," and similar expressions are forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Kingwest. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to

useplace r liance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, Kingwest does not undertaken any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based.

COMPETENT PERSONS STATEMENT

The information in this report that relates to Exploration results is based on information compiled by Mr Laurence Kirk who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Kirk is a Consultant Geologist to Kingwest Resources Limited. Mr Kirk has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking 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' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear. ersonalThe information in this report that relates to Mineral Resource is based on information compiled by Mr Mark Zammit who is a Member of the Australian Institute of Geoscientists. Mr Zammit is a Principal Consultant Geologist at Cube Consulting.

Mr Z mmit has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that they are undertaking 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' and consents to the inclusion in this report of the matters based on their information in the form and context in which they appear.

With reference to previously reported Exploration results, the company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates f Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The company confirms that the

f rm and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. The Board of Kingwest authorised for this presentation to be released to the ASX.

ersonal use only

Shares on Issue

242 million

Market Capitalisation

~$53 million

Options & Share

Rights*

50.4 million

Major Shareholders:

Horizon Minerals - 18%

Top 20

45%

3

CORPORATE OVERVIEW

BOARD AND MANAGEMENT

Ed Turner - Chief Executive Officer

Ed is a geologist with +30 years of global experience in a range of roles across base, precious and specialty metals for leading mining companies. Technical strengths include exploration, underground mining, feasibility studies and development level work. Ed was previously engaged as the CEO and General Manager of Exploration of Geology for Galena Mining Limited (ASX:GA1) where he delineated the high-grade Abra lead-silver deposit.

Gregory Bittar - Non-Executive Chairman

Greg has extensive experience in public and private markets mergers and acquisitions, capital markets and strategic advisory assignments across a range of sectors including general industries, metals and mining, mining services and energy. Mr Bittar has worked for Bankers Trust, Baring Brothers Burrows and with Morgan Stanley in London, Melbourne and Sydney. Mr Bittar is currently a Non- Executive Director of Horizon Oil Limited and has held a number of ASX listed mining and exploration company positions. Greg holds a Master of Finance from the London Business School, a Bachelor of Economics and a Bachelor of Laws (Hons) from the University of Sydney.

Adrian Byass - Non-Executive Director

Adrian is a resource and economic geologist with over 25 years' experience in the mining industry both in listed and unlisted entities globally. Adrian is a Non-Executive and Executive Director of various listed and unlisted mining entities, which have transitioned to production in bulk, precious and speciality metals around the world.

Jonathan Downes - Non-Executive Director

Jonathan has more than 25 years' experience in the mining industry and has worked in various geological and corporate capacities. Jonathan has experience with nickel, gold and base metals and has also been intimately involved with numerous private and public capital raisings.

Jon Price - Non-Executive Director

Jon is a highly regarded metallurgist with over 25 years' experience in Australia and overseas across all aspects of the industry including exploration, development, construction and mining operations in the gold and advanced minerals sectors. Jon is currently the Manging Director of Horizon Minerals, a West Australian focused gold development company.

• Options: 23.875m exercisable at $0.15 (30/12/23), 2.7m exerciseable at $0.39 (30/6/22), 5.15m exercisable at $0.54 (30/6/22), 400k exercisable at $0.215 (22/09/22), 6.25m exercisable at $0.17 (15/9/24) and 8m exercisable at $0.20 (21/10/24). Share Appreciation Rights: 2.97m at a strike price of $0.28 (7/10/2024), 1.1m at a strike price of $0.18 (15/09/2023).

1 As announced to the ASX on 19 July 2019 (ASX:KWR)

4

STRATEGIC HOLDING IN A MAJOR GLOBAL GOLD BELT

only Kingwest owns 100% of the advanced Menzies Gold Project (MGP) and the Greenfields Goongarrie Gold Project (GGP)

 Favorably located north of Kalgoorlie in the Eastern Goldfields of Western Australia, which is a Major Global Gold Belt

 Menzies is historically one of the highest-grade and significant scale useAustralian gold fields with historical production of 800,000 oz Au @

19g/t1 but has limited deep drilling to date

 80% of the very prospective GGP yet to be effectively explored

 Proximal to established processing and mining infrastructure ersonal Minimal CAPEX and lead time required to commence mining at

Menzies as all gold deposits are within granted mining leases

only1.

use2.

3.

ersonal4.

5

STRATEGIC OBJECTIVES

Follow up Kanowna Belle style "Sir Laurence Discovery" under Goongarrie Salt Lake

• 107 holes for 8,000m of aircore recently completed (assays pending for 42 holes)
• 1,500m diamond core programme has commenced
• 10,000m of RC drilling to follow in 2022

Follow up gold discovery at Goongarrie Target A9 - 4,000m of RC planned for 2022

Commercialising near-term gold mining opportunities at Menzies

Continue to grow Menzies JORC gold resources and explore for new discoveries (another "Lady Shenton"?)*

• Extensional RC drilling to add to current MRE's and to define high-grade underground resources
• • Lady Shenton underground produced 185,000t @ 32 g/t Au for 191,000 oz