Lodestar Minerals : LSR 2021 AGM Presentation

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ersonalLodestar AGM

November 2021

Important notices

This presentation has been prepared by Lodestar Minerals Limited (Lodestar). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Lodestar has no reason to believe that it is not accurate, reliable or complete, it has not been

independently verified or audited by Lodestar.

onlyForward Looking Statements: This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Lodestar Minerals' exploration program and other statements that are not historical facts. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Lodestar Minerals believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

Lodestar makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Lodestar and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Lodestar (and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

Competent Persons Statement

useThe information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Bill Clayton, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Bill Clayton is Managing Director and a full-time employee of Lodestar Minerals Limited. Mr Clayton 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 the reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Clayton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this announcement that relates to previously released exploration results was disclosed under JORC

2012 in the ASX announcements dated:

• 17th July 2014 "Lodestar Corporate Presentation". ersonal• 20th October 2015 "Big Sky RC Drill Results High-Grade Gold"

• 22nd December 2020 "Camel Hills Aircore Drilling Results".

• 21st April 2021 "Investor Presentation - General Meeting Update".

• 2nd September 2021 "Multiple Drill Targets Identified from Earaheedy-ImbinHeli-EM Survey".

• 22nd October 2021 "Exploration Update - Ned's Creek JV".

These announcements are available to view on the Lodestar website. 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. The company 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.

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only Investment

usesummary

Diversified portfolio of base metal and gold projects in

Western Australia with ersonalongoing news flow

• Nepean Nickel Project (20%) in JV with Auroch Minerals (ASX:AOU) currently undergoing scoping study:
• • On-goingevaluation of multiple drill targets.
  • Forecast high demand growth for nickel in both batteries and stainless steel materials driving current M&A activity.
• Imbin Base Metal Project (Cu-Ag-Auand Zn-Pb):
• • Multiple conductor drill targets identified in the emerging Earaheedy metallogenic province.
  • Controlling 50km strike extent on the opposite basin margin to Rumble
    Resources' (ASX:RTR) major Zn-Pb discovery.
• Ned's Creek JV (Gold, VAN earning 51%)
• • 3700m RC program completed.
• Bulong Gold Project - 40km east of Kalgoorlie.
• Jubilee Well (Oro Del Sur) - 8.6km north of 9Moz Au Sunrise Dam:
• • World-classLaverton tectonic zone, walk-up drill target along strike from 240,000oz Au Golden Delicious deposit1.

1. Measured, indicated and Inferred Resource of 6.36Mt at 1.17g/t Au for 0.24Moz. See AngloGold Mineral	3
Resource and Ore Reserve Report 2020 for details. https://www.aga-reports.com/20/OP.

Corporate overview

Capital structure

Board and Senior Management
Chairman - Ross Taylor
only	Chartered Accountant and finance professional with extensive
▪
	experience in global investment banking and financial markets.
▪	Senior positions with Deutsche Bank, Bankers Trust and
	Barclays Capital.
▪	Largest shareholder in Lodestar.
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Managing Director - Bill Clayton
▪	Geologist with 30 years' experience in Western Australian
	greenfields exploration, project generation and evaluation roles.
▪	Previous senior roles with LionOre, Forrestania Gold,
ersonal	Outokumpu and CSA Global.
Non-Executive Director - David McArthur
▪	Accountant with broad range of experience in financial and
	corporate management of public listed companies gained over
	the past 28 years.

ASX code	LSR
Shares on issue	1,390.9m
Options on issue	216.0m
Share price	1.0¢
Market capitalisation	A$13.9m
Cash & marketable securities (30 Sep 21)*	A$0.37m
Directors	18%
Top 20 shareholders	43.7%

• $1m capital raising successfully completed October 2021

Lodestar Shareholders

Ross Taylor

Directors (ex-Mr Taylor)

Others

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Located in the Earaheedy province - Zn-Pband Cu-Aupotential.

Extensive Cu-Augeochemical anomalies over 20km strike.

Additional gold and lithium potential.

10km strike of underexplored mine ultramafic sequence.

Historic high-gradeunderground nickel mine produced 32,303t of nickel metal at 2.99% Ni1.

Remnant resource of ~13,250t contained nickel at 2.2% Ni (JORC 2004)2.

Project overview (Ni Au Cu Zn Pb)

Nepean Nickel Project (LSR 20%)

only•

•

•

use•Imbin-Earaheedy Craton Margin (LSR 100%)

•

ersonal•

Ned's Creek (VAN earning 51%), Bulong, & Jubilee Well Gold Projects (LSR 100%)

• All located in the Eastern Goldfields Superterrane.
• Shear-hostedlode gold potential.
• Multiple advanced to early stage exploration targets.

Camel Hills-Craton Margin (LSR 100%)

• Shear zone related lode gold in proximity to Gascoyne Resource's 0.5Moz Au
  Glenburgh gold deposit3.

2.	See Auroch Minerals (ASX:AOU) ASX release dated 11th November 2020.	5
3.	Indicated and Inferred. For details see Gascoyne Resources (ASX:GCY) ASX release dated 18th December 2020.