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PRODUCTION LITHIUM MINERAL SANDS INVESTMENT 2 Disclaimer - - PowerPoint PPT Presentation

INDABA PRESENTATION CORPORATE PRESENTATION CAPE TOWN | FEBRUARY 2017 OCTOBER 2017 AIM:SAV AIM:SAV CORPORATE A MULTI-COMMODITY PORTFOLIO WITH NEAR COPPER AND MID TERM PRODUCTION LITHIUM MINERAL SANDS INVESTMENT 2 Disclaimer CORPORATE


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SLIDE 1

CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

INDABA PRESENTATION CAPE TOWN | FEBRUARY 2017 AIM:SAV

A MULTI-COMMODITY PORTFOLIO WITH NEAR AND MID TERM PRODUCTION

CORPORATE PRESENTATION OCTOBER 2017 AIM:SAV

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

Disclaimer

The information contained in these slides and the accompanying oral presentation (together, the "Presentation") have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). If any person is in any doubt as to the contents of this Presentation, they should seek independent advice from a person who is authorised for the purposes of FSMA and who specialises in advising in investments of this kind. The information contained in this document does not purport to cover all matters that may be relevant for the purposes of considering whether or not to make any prospective investment and is not intended to provide, and should not be relied upon, for accounting, legal or tax advice. This Presentation is supplied to you solely for information. The information contained in this Presentation has been prepared by Savannah Resources plc (the "Company"). The Presentation and any further confidential information made available to any recipient, either orally or in writing, must be held in complete confidence and documents containing such information may not be reproduced, used or disclosed without the prior written consent of the Company. The Presentation shall not be copied, published, reproduced or distributed in whole or in part, to any other person, for any purpose at any time. The information contained in the Presentation is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, and should not be acted upon by any class of person other than (i) qualified investors (within the meaning of the Prospectus Directive 2003/71/EC) and (ii) investment professionals falling within Article 19(5) and high net worth companies, unincorporated associations and partnerships and trustees of high value trusts falling within Article 49(2) respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (or persons to whom it may otherwise be lawfully communicated) (together "Relevant Persons"). Persons who are not Relevant Persons should not attend the Presentation or rely on or act upon the matters communicated at the Presentation. By accepting the Presentation, you agree to be bound by these restrictions. The Presentation does not constitute an admission document, prospectus or listing particulars relating to the Company or the Enlarged Group; it has not been approved by the London Stock Exchange or the Financial Conduct Authority, nor does it constitute or form part of any offer, invitation, inducement or commitment to, sell, issue, or any solicitation of any such offer or invitation to subscribe for, underwrite or buy, any shares in the Company or any of its affiliates to any person in any jurisdiction, nor shall it nor any part of it, nor the fact of its distribution form the basis of, or be relied on in connection with, or act as any inducement to enter into any contract or investment decision in relation thereto. No undertaking, assurance, representation or warranty, express or implied, is made or given by or on behalf of the Company, Northland Capital Partners Limited (“Northland”) or finnCap or any of their respective existing or proposed members, agents, affiliates, representatives, advisers, employees or directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document and no responsibility or liability is accepted by any such person for any loss however arising from any use of, or reliance on, or in connection with, this Presentation or its contents or otherwise arising in connection therewith. Notwithstanding this, nothing in this paragraph shall exclude liability for any such undertaking, assurance, representation or warranty made fraudulently. Certain statements in the Presentation are forward-looking statements, and the Presentation itself has been based upon a number of assumptions, forecasts and projections of the Company which by their nature are forward looking. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "potential", "anticipate", "plans" or "assumes" or similar expressions, or by discussions of strategy that involve risk and uncertainties. By their nature, forward-looking statements, assumptions, forecasts and projections involve a number of risks and uncertainties, and in some cases are based on estimates and incomplete information, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements

  • r by the Presentation as a whole. These risks and uncertainties, and the impact they have on the assumptions, forecasts and projections contained in the Presentation, could

adversely affect the outcome and financial effects of the plans and events described herein. The distribution of this document in certain jurisdictions may be restricted by law and therefore persons into whose possession this document comes should inform themselves about and observe any such requirements or restrictions. Any such distribution could result in a violation of the law of such jurisdictions. Neither this document nor any copy of it should be distributed, directly or indirectly, by any means (including electronic transmission) to any persons with addresses in the United States of America (or any of its territories or possessions) (together, the "US"), Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa or distributed to the US, Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa or to any national, citizen or resident thereof or any corporation, partnership or other entity created or organised under the laws thereof, or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement. The securities referred to in this presentation have not been and will not be registered under the US Securities Act of 1933, as amended, (the "US Securities Act") or under any securities laws of any state or other jurisdiction of the US and may not be offered, sold, resold, taken up, exercised, renounced, transferred or delivered, directly or indirectly, within the US, Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa, or to, or for the account or benefit of, any person with a registered address in, or who is resident or ordinarily resident in, or a citizen of, the US, Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and/or any other applicable securities laws.

2

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

Overview: Diversified Pipeline of Projects

Mozambique Heavy Mineral Sands Project

  • World class heavy mineral sands project
  • Joint venture with Rio Tinto including 100% offtake

agreement

  • Earning up to 51% interest with PFS (underway)

and DFS

3

Oman Copper Project

  • Copper project with strong local investor support
  • 1.7Mt Mineral Resource at 2.2% copper
  • Next step – developing two low capex, high grade

mines to initiate cashflow

Near-term milestone/value drivers & near and mid term mineral production

Portugal Lithium Project

  • Recently acquired lithium project
  • 30-year mining licence – 19 years to run
  • Plans to be the first significant lithium producer in

Europe

  • Drilling underway to define Mineral Resource and

move to feasibility studies Corporate

  • Experienced board and management group
  • Directors associated with 35.68% of the share register

resulting from cash investments

KEY DATA MARKET AIM TICKER SAV SHARE PRICE1 5.625p MARKET CAP1 £30.17 million SHARES ON ISSUE1 561,417,154 SHAREHOLDERS Al Marjan Limited – 29.17% David Archer – 5.64% Rémy Welschinger – 4.04%

1as at 9.10.17

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

COPPER LITHIUM INVESTMENT MINERAL SANDS

Near and mid term production targets

COPPER - OMAN Mining targeted to commence H1 2018 LITHIUM – PORUGAL Development decision to be made late 2018 MINERAL SANDS – MOZAMBIQUE Development decision late 2019

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

Board and Senior Management

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Maqbool Sultan Non-Exec Director David Archer Chief Executive Officer Imad Sultan Non-Exec Director Matthew King Chairman

Manohar Shenoy Alternate for Maqbool Ali Sultan Murtadha Sultan Alternate for Imad Sultan

Exploration and development managers

Durair A’Shaikh General Manager Business Development Oman Michael McGarty Chief Financial Officer

Paul O’Donoghue Country Manager, Mozambique Lithium Commercial Director TBC

Dale Ferguson Technical Director

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

Oman: Targeted Copper Production 2018

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Oman: Targeted Copper Production 2018

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Aarja Zuha Lasail Bayda Salahi 1 – gold Gaddamah - copper and gold

51% interest earning up to 65%

Mahab 4 - 1.51Mt at a grade of 2.1% copper for 31,500t of contained copper Maqail South – 0.16Mt at a grade of 3.8% copper

65% interest

BLOCK 4

408km²

BLOCK 5

598km²

Strategy: Targeting a resource inventory to support high margin, low cost, copper/gold

  • perations

Highly prospective asset portfolio covering 1,006 km²

✓ Metallurgically simple ores ✓ Medium to high-grade deposits ✓ Power ✓ Port ✓ Roads ✓ Low Fuel Cost

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Oman: Mining Licence Applications and Development

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Copper mining targeted to commence H1 2018

Additional metallurgical test work and the development

  • f

a detailed mine design and production plan for the two mines being undertaken Economic evaluations are well advanced into the potential development of a combined open pit and underground mining and treatment operation to produce a high-quality copper concentrate

Maqail South – OPEN PIT MINING

✓ Environmental Impact Assessment submitted March 2017 ✓ Regulatory approval or "No Objection" received from five Ministries for the Maqail South Licence application to date

Underground mining is more expensive than open pit mining but has benefits

  • Easier to control dust and noise and the potential

impacts on neighbours

  • The surface area required for mining is much

smaller

  • The environmental impact is smaller and easier to

manage

  • The visual impact of the operation is minimised

Mahab 4 – UNDERGROUND MINING

✓ Environmental Impact Assessment application submitted May 2017 ✓ Regulatory approval or "No Objection" received from four Ministries for the Mahab 4 Licence application to date

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Processing plant and tailings storage facility

9

  • Plan to install a common, central processing plant and tailings storage facility ('TSF’) to support

multiple mine development

  • Run-of-mine crushed ore will be trucked to the plant, which will produce a copper

concentrate for shipment to export markets

  • Tailings produced from the processing plant will be stored under a strategy that is currently

being reviewed by the Ministry of Environment and Climate Affairs ('MECA'). Our strategy has received in principle approval from MECA in that they have confirmed that it is worthy to be considered for licencing

  • Maqail South and Mahab 4 to utlilise the proposed plant and TSF, but opportunity to treat ores

from other high-grade copper deposits adding further potential upside

  • Commenced the Environmental Impact Assessment ('EIA') into the design and efficacy of the

proposed TSF and copper concentrator / processing plant – received approval in principle from the Ministry of Environment and Climate Affairs ('MECA') subject to studies and test work being presented

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Oman: Resource Table

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Mineral Inventory 0.5% Cu Cut-off Grade Deposit Category Tonnes Cu Au Ag Cu Au Ag T % g/t g/t Tonnes Ounces Ounces Mahab 4 Indicated 930,000 2.8 0.2 8.6 26,000 6,000 256,000 Inferred 610,000 0.9 0.1 2.7 5,000 2,000 52,000 Maqail South Inferred 160,000 3.8 0.1 2.4 6,000 1,000 12,000 Total 1,700,000 2.2 0.2 5.9 37,000 9,000 320,000

Savannah’s Oman projects contain defined Mineral Resources of 1.7Mt at 2.1% Cu

Chalcopyrite identified as the sole copper bearing mineral, which is likely to lead to a simple, quick and relatively low cost flotation process Favourable processing costs as Mahab 4 resource appears to be relatively soft and requires relatively low primary milling power requirements Relatively low equipment liner and grinding media wear due to low abrasion rates Potential recoveries of around 95% at moderate grind sizes Saleable copper concentrate of over 23% can be achieved with recoveries over 90% with gold and silver credits Strong interest by copper off-takers and potential to also produce a product Additional test work is now underway to refine the process, further improve recoveries and overall copper concentrate grades

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Oman: Targeting near-term production

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  • Mineral resource update
  • Scoping studies
  • Mine licensing
  • Define Processing Solution
  • Feasibility study commences
  • Offtake agreement negotiations commence

2017

  • Final investment decision
  • Mining commences and first concentrate produced
  • Resource Expansion/Development
  • Exploration of new projects
  • Project Acquisitions

2018

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

Portugal Lithium Project

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

Why Lithium: A Strategic Commodity

  • European manufacturers consume approximately 24% of

global battery grade lithium production lithium (second

  • nly to China) and Europe is an early adopter of electric

vehicles (‘EVs’) and battery storage solutions

  • No European country currently produces battery grade

lithium carbonate equivalent (‘LCE’) products, so European manufacturers import 100% of their requirements

  • Daimler laid foundations for a €500m lithium-ion battery

plant in Germany. Others are under way in Sweden, Hungary and Poland*

  • Head of automotive at KPMG said “The cells are

heavy and very expensive…I think that will lead to regional production and it needs to be in large facilities to make it economically viable.”*

  • Brussels

wants to bring together an Airbus-style consortium of leading European companies to develop battery technology**

  • Global demand for lithium-ion batteries is expected to rise

to $40bn by 2025 as electric cars become commonplace, according to Goldman Sachs**

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The lithium revolution has started in Europe but where is Europe’s lithium supply?

Portugal has the potential to become Europe’s largest long term supplier of battery grade LCE products

* Source: https://www.ft.com/content/44589a00-582d-11e7-80b6-9bfa4c1f83d2 ** Source: https://www.ft.com/content/3260d4fc-a53f-11e7-9e4f-7f5e6a7c98a2

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

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Portugal: Lithium Project

  • Potential

to be the first significant lithium concentrate producer in Europe: Granted mining lease over a number of lithium (spodumene) deposits mining in Portugal - low-cost setting and stable country

  • Four highly prospective lithium projects covering

1,024km2 in northern Portugal*

  • Initial metallurgical test work indicates a high grade,

>6% Li2O, clean, low iron lithium (spodumene) concentrate can be produced

  • Significant

exploration drilling undertaken by previous

  • wners.

Resource drilling, mapping and sampling underway to define an initial Mineral Resource

  • Established infrastructure – includes roads, power and

port

European Lithium Project With Near-Term Production Target

Advancing Mina do Barroso to take become the first significant lithium concentrate producer in Europe

Acquisition in May 2017

Acquired a 75% interest in actual and contingent assets over four project areas with over 1,024km2 of tenure including*: one granted mining lease (5.42km2), and nine pending exploration licence applications*

Cash (AUD $m) SAV Shares Initial Consideration 1.0 20m Deferred Consideration 1** 1.5 20m Deferred Consideration 2*** 1.5 20m

If all deferred consideration is paid the total consideration would equate to AUD$10.1m (£5.8m) based on SAV share price on 24.05.17 * Of the 1,024km2 Project area relating to the pending applications: 348km2 is on track for government approval and 670km2 is currently subject in part to overlapping exploration licence applications from third parties ** JORC compliant resource of 7.5Mt at no less than 1% Li2O *** JORC compliant resource of additional 7.5Mt at no less than 1% Li2O

Deep water port in Porto, Portugal

*Source: Google Earth

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

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High grade, clean, low iron, spodumene lithium deposit with 30-year mining concession

Project Overview

NOA or Souto da Cerdeira Alto do Cortico Carvalha Da Bacora Campo de Futebol Pinheiro Grandao or Fechas Piegro Negro Reservatorio or Chamica

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

Why Spodumene?

  • The ONLY significant and currently commercial lithium mineral that can produce

battery grade concentrate is spodumene - this has the highest lithium content of the various minerals and has the highest density, making it relatively straightforward to process and recover

  • Spodumene has been the preferred target for most hard-rock lithium exploration

and development so far because:

  • The pure mineral has a relatively high proportion of contained lithium compared to the other

lithium minerals; this means that concentrate transport and downstream processing costs can be minimised

  • It has a relatively high specific gravity (SG), which makes it straightforward to process using

gravity methods as its SG is likely to be significantly different to the surrounding waste rock

  • All significant hard-rock lithium mines currently supplying the makers of lithium

carbonate mine spodumene

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Source: finnCap note ‘Lithium – what’s good and what’s not so good’, September 2017

Commonly targeted lithium minerals Mineral Max Li content (%) Specific Gravity Spodumene 3.73 3.1-3.2 Jadarite 3.16 2.45 Petalite 2.27 2.4 Lepidolite <3.51 2.8-2.9 Zinnwaldite <1.59 2.9-3.0 Hectorite 0.54 2-3

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

Drilling Results - Mina do Barroso

  • 16 RC drill holes completed on three primary target areas -

Grandao, Reservatorio and NOA – and further drilling underway

  • Reservatorio Deposit: drilling confirmed mineralisation over a

200m strike length together with good down dip extensions

  • f at least 80m:
  • 36m at 1.26% Li₂O from 29m in 17RESRC05
  • 33m at 1.15% Li₂O from 16m in 17RESRC07
  • 26m at 0.92% Li₂O from 61m in 17RESRC04
  • 25m at 1.01% Li₂O from 36m in 17RESRC03
  • Grandao Deposit: drilling confirmed mineralisation over a

200m strike length in a large, near surface, sub horizontal pegmatite body:

  • 18m at 1.27% Li₂O from 1m in 17GRARC06
  • 17m at 1.24% Li₂O from 16m in 17GRARC05
  • 15m at 1.08% Li₂O from 39m in 17GRARC04
  • 14m at 1.18% Li₂O from surface in 17GRA07
  • Both Reservatorio and Grandao remain open along strike and

down dip

  • Drilling underway at NOA and to be followed by further

drilling at Reservatorio and Grandao with a view to defining a Mineral Resource by the end of 2017

  • Further mapping at five additional high priority targets of the

licence area

  • Phase 2 of the Metallurgical Test Work programme is

scheduled to commence shortly. This is aimed at providing the required data for a scoping study

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Close-up of coarse-grained spodumene from the Mina do Barroso tenement

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

Project Development

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Approvals

  • Approved to mine approximately 7Mt of lithium, quartz and feldspar ore from seven approved mining

nucleos

  • Approvals need to be modified for the extraction of additional material and to build a plant specific to

lithium processing; this process is expected to take in the order of 6-8 months as the changes are an amendment to the existing approvals

  • Valid until 2036, with a 20 year extension available

Work underway to define a JORC resource in the near term with first production targeted for Q4 2019

POTENTIAL DEVELOPMENT TIMETABLE - MINA DO BARROSO

2017 2018 Activity Sept Oct Nov Dec Jan Feb March April May June July Aug Sept Oct Nov Dec

Exploration RC/Diamond Drilling Inferred JORC Resource First Pass Metallurgy Scoping Study RC/Diamond Drilling Indicated JORC Resource Feasibility Metallurgy Feasibility Study RC/Diamond Drilling Measured JORC Resource Licensing Amendments Processing Plant Approval Financing Development Decision

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM Company Project Location Project Status Mining Licence? Good infrastructure? Spodumene? London listed? Market cap (£m)*

Galaxy Resources Mount Cattlin Australia Production ✓ ✓ ✓  720 Neometals Mount Marion

**13% interest

Australia Production ✓ ✓ ✓  118 Pilbara Minerals Pilgangoora Australia Construction ✓ ✓ ✓  707 Plymouth Minerals San Jose Spain Feasibility  ✓   16 Novo Litio Lusidakota Portugal Exploration  ✓   13 Bacanora Minerals Sonora Mexico Feasibility    ✓ 105 Kodal Minerals Boungouni Mali Drilling   ✓ ✓ 17 European Metals Cinovec Czech Republic Feasibility  ✓  ✓ 64 European Lithium Wolfsberg Austria Feasibility ✓ ✓ ✓  15 Savannah Mina do Barroso Portugal Drilling

✓ ✓ ✓ ✓

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Lithium Comparable Analysis

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Savannah is the ONLY London-listed lithium project with a spodumene deposit and infrastructure links

*Market Caps provided as at 9 October 2017

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS COPPER

Mozambique: The Mutamba Project

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

Why Heavy Mineral Sands?

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Positive price indications for ilmenite:

  • Four years of price decline ended March 2016

and steady price increases through 2017 as a result

  • f improving demand from pigment manufacturers

and reductions in supply

  • Market currently tight, with spot price increases

accelerating from late 2016 for sulphate ilmenite

  • Consolidation in the customer group with mergers
  • f Sichuan Lomon & Henan Billions and Tronox

& Cristal

  • Higher prices support additional supply and mine

development

  • The mineral sands industry consists of two principal

product streams; titanium dioxide minerals – in the form of ilmenite, rutile and leucoxene; and zircon

  • Heavy mineral sands are placer deposits formed

most usually in beach environments by concentration due to the specific gravity of the mineral grains

USES

  • Titanium dioxide pigment is a pure white,

highly refractive and ultraviolet light absorbing product, which is commonly used in paints, plastics, paper, textiles and inks

  • Zircon is used in the ceramics industry in

the production of opacifiers, which are used in surface glazes and pigments

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

Mozambique: The Mutamba Project World Class Heavy Mineral Sands Project

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Joint Venture Rio Tinto

  • Phase 1: Scoping Study - Savannah 20% participating interest on

completion – COMPLETED

  • Phase 2: Pre-feasibility Study - Savannah 35% participating interest on

completion – UNDERWAY

  • Phase 3: Feasibility Study – Savannah 51% participating interest on

completion

  • Construction Decision

Rio Tinto Joint Venture focussed on early development

Indicated and Inferred Mineral Resource of 4.4 Bt tonnes at 3.9% THM

  • Covers the Jangamo, Dongane and Ravene deposits
  • Contains 102 million tonnes (“Mt”) of ilmenite, 2.2Mt rutile and 4.7Mt

zircon

  • Includes a high-grade portion of 92Mt at 6.2% THM

The Resource Infrastructure

  • Located ~450km northeast of the capital city of Maputo and ~40km

from the port of Inhambane

  • Lindela substation located 5km away
  • Proven local workforce
  • Established camp facilities
  • On-site laboratory and sample storage warehouse
  • Pilot plan under construction
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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

The Scoping Study and Peer Comparison

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Robust Economic Development Project - May 2017 Scoping Study Highlights:

Initial LOM of 30 years with mining inventory

  • f 451Mt at 6% THM

US$4.23 billion LOM revenue forecast Capex of US$152 + US$74 million EPC/contingency Further optimisation possible through the feasibility phases

PEER COMPARISON TABLE (Million Tonnes) Total Heavy Minerals % Valuable THM % Mineral Estimate Peer Group Company Operation Country Ilmenite Rutile Zircon Total Resource Kenmare Moma *** Mozambique 6,472 2.90% 2.40% 0.10% 0.16% 2.66% Savannah Resources Mutamba* Mozambique 4,400 3.90% 2.30% 0.05% 0.11% 2.46% Mineral Deposits Grand Cote** Senegal 1,915 1.40% 1.01% 0.04% 0.15% 1.19% World Titanium Resources Ranobe Madagascar 959 6.10% 4.40% 0.14% 0.34% 4.89% Base Resources Kwale Kenya 147 3.5% 2.00% 0.46% 0.21% 3.5% Bluejay Mining Dundas Greenland 23 34.5% 8.8% N/A N/A N/A Reserves Kenmare Moma *** Mozambique 1,564 3.30% 2.70% 0.06% 0.18% 2.94% Mineral Deposits Grand Cote** Senegal 1,294 1.50% 1.08% 0.04% 0.16% 1.28% World Titanium Resources Ranobe Madagascar 161 8.20% 5.93% 0.20% 0.45% 6.58% Base Resources Kwale Kenya 91 4.3% 2.49% 0.56% 0.26% 4.3%

Notes to above table: Source - referenced companies’ websites * Mineral Estimates on 100% basis. Company has 20% interest, earning up to 51% interest ** Mineral Estimates on 100% basis. Company has 45% interest.*** Reserve not included in resource

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

Development Timeline

24

* Approval required from both Savannah and Rio Tinto ✓ Scoping Study – completed ✓ Commence Pre-Feasibility Study – underway ✓ Pilot plant test work construction – underway ✓ Community Engagement programme

  • Implementing a cohesive community engagement policy to ensure positive

relationships with the communities in which we operate, supporting regional development, and ensuring high standards of social and environmental compliance

  • Mining lease application*
  • Complete environmental studies
  • Mozambican environmental consultants IMPACTO and ERM appointed December 2016

to conduct environmental studies for the Mutamba and Chilubane Projects

2017

  • Complete EIA
  • Complete Pre-Feasibility Study
  • Commence Definitive Feasibility Study*
  • Mining Concession Granted
  • Community Studies and Engagement

2018

  • Complete Definitive Feasibility Study
  • Environmental Licences granted
  • Finalise offtake contract*
  • Final investment decision*
  • Mine construction commences*

2019

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS MINERAL SANDS

25

Summary

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS INVESTMENT

Summary

26

Strategy to build a diversified, mid-tier mining group with a strong pipeline of projects particularly focussed on energy metals World class heavy minerals sands project in Mozambique being developed in partnership with Rio Tinto aiming to meet global titanium feedstock supply shortfall in the 2020s Lithium deposits in Portugal can play a strategic role in the development of an integrated Lithium/EV value chain in Europe Copper mining in Oman on track to commence in H1 2018 Highly skilled development team with proven track record of mine development and investment success Building the value of the company with high tempo activity across project portfolio Cornerstone 29.9% shareholder

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS INVESTMENT

Appendix

27

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CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

CFO Michael McGarty

Board and Management Team

28

Board of Directors Matthew King – Chairman David Archer – CEO Dale Ferguson – Technical Director Maqbool Sultan – NED (Alternate – Manohar Shenoy) Imad Sultan – NED (Alternate – Murtadha Sultan)

Key Board and Executive Business Development Admin & Finance Exploration, Development and field activities

CEO David Archer Group Financial Accountant Belen Madronal Legal Officer James Robson Finance Director, Oman Partha Vasevudan Outsourced Services Technical Director Dale Ferguson Exploration and Development Manager, Oman David Price Exploration and Development Team, Oman Exploration and Development Manager, Mozambique Dean Wadsworth Manager of Geology and Laboratory Teams Fahamo Ussene Geology and Laboratory Teams Project Geologist, Portugal Cristina Lourenço Exploration and Development Team Mozambique Country Manager Paul O’Donoghue Human Resources and Officer Manager Samira Faquir Admin and Camp Support Teams Legal Counsel and Government Relations Monteiro Suege Manager of Finance Lucas Macie Finance Team Strategic Support Business Development Manager, Oman Dr Durair A’Shaikh Commercial Director Lithium TBC Government Relations Director, Portugal Adriano Barros Executive Admin Assistant Lee Bromfield Country Manager, Portugal Joao Barros Outsourced services

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SLIDE 29

CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

finnCap research note: lithium – what’s good and what’s not so good

29

Source: finnCap note ‘Lithium – what’s good and what’s not so good’, 12 September 2017

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SLIDE 30

CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS LITHIUM

finnCap research note: lithium – what’s good and what’s not so good

30

Source: finnCap note ‘Lithium – what’s good and what’s not so good’, 12 September 2017

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SLIDE 31

CORPORATE COPPER LITHIUM INVESTMENT MINERAL SANDS

CORPORATE

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