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IMARC | OCTOBER 2026 | ASX: LRV1 ASX:LRV IMARC October 2026 Australia’s Newest Critical Minerals Producer ASX:LRV
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IMARC | OCTOBER 2026 | ASX: LRV2 Cautionary Statement Nature of this document: This investor presentation (Presentation) is dated 21 October 2026 and has been prepared and authorised by Larvotto Resources Limited (ACN 645 596 238) (Company). Unless otherwise stated herein, the information in this Presentation is based on the Company’s own information and estimates. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at https://www.larvottoresources.com/ or https://www2.asx.com.au/. Not an offer: This Presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This Presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. Not financial product advice: This Presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this Presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. Summary information only: This Presentation is a summary only and contains summary information about the Company and its respective subsidiaries and activities, which is current as at the date of this Presentation (unless otherwise indicated), and the information in this Presentation remains subject to change without notice. The information in this Presentation is general in nature and does not purport to be accurate nor complete, nor does it contain all of the information that an investor may require in evaluating a possible investment in the Company, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It has been prepared by the Company with due care but no representation or warranty, express or implied, is provided in relation to the accuracy, reliability, fairness or completeness of the information, opinions or conclusions in this Presentation by the Company, or any other party, except as required by law. Reliance should not be placed on information or opinions contained in this Presentation and the Company does not have any obligation to finalise, correct or update the content of this Presentation, except as required by law. Certain data used in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Forward-looking statements: Certain statements in the Presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward-looking statements speak, and the Presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Relevant factors which may affect the Company’s actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. No Liability: The information contained in this Presentation has been prepared in good faith by the Company. However, no guarantee, representation or warranty expressed or implied is or will be made by any person (including the Company, and its affiliates, directors, officers, employees, associates, advisers and agents) as to the accuracy, reliability, correctness, completeness or adequacy of any statements, estimates, options, conclusions or other information contained in this Presentation, except as required by law. To the maximum extent permitted by law, the Company, and its affiliates, directors, officers, employees, associates, advisers and agents each expressly disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this Presentation including representations or warranties or in relation to the accuracy or completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this Presentation including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. Statements in this Presentation are made only as of the date of this Presentation unless otherwise stated and the information in this Presentation remains subject to change without notice. No responsibility or liability is assumed by the Company, or any of its affiliates for updating any information in this Presentation or to inform any recipient of any new or more accurate information or any errors or omissions of which the Company, or any of its affiliates or advisers may become aware, except as required by the Corporations Act. Disclaimer: The Company nor any of its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents, have authorised, permitted or caused the issue, submission, dispatch or provision of this Presentation and, except to the extent referred to in this Presentation, none of them makes or purports to make any statement in this Presentation and there is no statement in this Presentation which is based on any statement by any of them. To the maximum extent permitted by law, the Company and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents exclude and disclaim all liability, for any expenses, losses, damages or costs incurred by you and the information in this Presentation being inaccurate or incomplete in any way for any reason, whether by negligence or otherwise. To the maximum extent permitted by law, the Company and its advisers, affiliates, related bodies corporate, directors, officers, partners, employees and agents make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of information in this Presentation. Statements made in this Presentation are made only as at the date of this Presentation. The information in this Presentation remains subject to change without notice.
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IMARC | OCTOBER 2026 | ASX: LRV3 ASX:LRV ASX:LRV Building a Secure & Diversified Critical Minerals Supply
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IMARC | OCTOBER 2026 | ASX: LRV4 Australia's largest antimony producer • From acquisition to production in 2.5 years • First antimony concentrate delivery October 2026 Commissioning commenced July 2026 Production commenced August 2026 First concentrate September 2026 Production Ramp-up • Improving plant availability • Improving concentrate grades • First gold concentrate & gold doré deliveries Q4 2026 • Potential tungsten production in 2027 with metallurgical testwork underway Producing & Delivering
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IMARC | OCTOBER 2026 | ASX: LRV5 ASX:LRVASX:LRV • Hillgrove Mine is largest antimony supply outside of China • Australia’s $1.2 billion Critical Mineral Reserve Strategy – prioritises antimony as one of 3 critical minerals • Establishing international interest Global Demand Increasing for Critical Mineral Supply
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IMARC | OCTOBER 2026 | ASX: LRV6 Commodity Target p.a.1 Gold (oz) 40,500 Antimony (t) 4,900 Tungsten (t) (potential) 600 ASX:LRV Nov 23 Oct 26 Antimony (t) $9,000 $26,000 Tungsten (t) $15,000 $320,000 Gold (oz) $2,700 $4,010 Copper (t) $8,900 $14,300 Strong commodity price environment ($US) 1 See announcement ASX: LRV 6 May 2025, Hillgrove Antimony-Gold Project Delivers Compelling DFS Annual production ~7% of global antimony demand Production Profile
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IMARC | OCTOBER 2026 | ASX: LRV7 Mitigating high inflation environment • Successfully building a regional workforce 90% of staff are local residents • On mains power, minimal diesel use • Community engagement at core of operational strategy supporting local employment procurement long-term community benefits Strong team environment formed from a local workforce and community engagement is integral to Larvotto’s regional presence Regional Advantages
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IMARC | OCTOBER 2026 | ASX: LRV8 Expanding Hillgrove into a Multi-Decade Mining Centre ASX:LRV Resource growth supports mine life extension & production optionality
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IMARC | OCTOBER 2026 | ASX: LRV9 Exploration Focus Extensions near processing facility to provide additional mineable zones • Initial Metz Exploration Target2: – 2.8-3.6Mt @ 7.4-9.46g/t AuEq for 670,000-1.08M oz AuEq • Midas Lode Exploration Target3: – 2.7-10.7Mt @ 2.58-8.55g/t AuEq for 223,000-2.95M oz AuEq • Mineral Resource upgrade expected in 2027 • Access to multiple mining areas offers scope to adjust the production mix as antimony and gold prices change, subject to mine planning and ore availability Cautionary Statement: The Exploration Targets have been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the Exploration Targets are conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. 2 See announcement ASX: LRV 28 June 2024, Significant Exploration Upside Demonstrated at Hillgrove 3 See announcement ASX: LRV 23 June 2026, Initial Midas Lode Exploration Target
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IMARC | OCTOBER 2026 | ASX: LRV10 Existing underground access offers a potential pathway to include Midas in the mine schedule ahead of deeper mineralisation Midas Exploration Target
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IMARC | OCTOBER 2026 | ASX: LRV11 BKC015 - 31m @ 65.8g/t Au from 244m incl. 5.3m @ 220g/t Au from 245.0m Over 200 known deposits and occurrences on Larvotto's Hillgrove leases Significant Exploration Upside
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IMARC | OCTOBER 2026 | ASX: LRV12 ASX:LRV Replicating Hillgrove Development Model in Australia’s Premier Copper Region • Second Growth Platform for Future Development • >1,000km 2 tenure for exploration • Blockade Mine acquired Mt Isa Copper Project
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IMARC | OCTOBER 2026 | ASX: LRV13 Cornerstone of Mt Isa Copper Development Strategy • RC drill program validated historical results4 – 31m @ 1.16% Cu from 63m including 8m @ 1.86% Cu from 78m – 5m @ 1.3% Cu from 53m – 4m @ 1.65% Cu from 85m • High grade copper up to 4.08% Cu with associated elevated cobalt up to 0.14% Co values intersected, confirming the presence of high-grade mineralisation • Historical mining and existing infrastructure have potential to reduce development timelines The Blockade acquisition provides an advanced copper development asset, surrounded by Larvotto’s existing Mt Isa tenements 4 See announcement ASX: LRV 9 July 2026, Blockade Copper Mine Option Exercised Historic Blockade Mine
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IMARC | OCTOBER 2026 | ASX: LRV14 Mark Tomlinson B.Eng.(Mining), FAusIMM Mark is an Investment Banker and Mining Engineer with over 40 years of experience in the Australian mining sector. He recently served as Corporate Finance Director at Patersons Securities for 13 years, handling capital raisings, M&A transactions, and advising ASX companies. Previously, he consulted for BHP Billiton and Credit Suisse and was a senior mining analyst with Bankers Trust and JP Morgan. He began his career as a mining engineer with BHP Billiton and Rio Tinto. Mark is a Fellow of the Australasian Institute of Mining and Metallurgy. Non-Executive Chair Ron Heeks B.App.Sc, MAusIMM Ron has been the Managing Director of Larvotto Resources since December 2021. With over 35 years in the mining industry, he has held senior roles at Geopacific Resources, Coolgardie Gold NL, and Smarttrans Ltd. Ron co-founded Exploration and Mining Consultants and has worked with major companies like Western Mining Corporation, Newcrest, and Newmont. His international experience includes significant work in South-East Asia, particularly Indonesia Managing Director Rachelle Domansky Rachelle is an ESG specialist and consultant psychologist to business and government in the Asia Pacific region. She is experienced in ESG, mining and sustainability law, media and marketing, human resources development and management, corporate culture, and education and training. Rachelle currently holds non-executive board positions at Metals Australia Limited and Quebec Lithium Limited. Non-Executive Director B.A, B.App.Sc (Hons), M.Ed, DipESG, MAPS, MASH, MAICD, LLMiningE Board and Management Chief Technical Officer Chief Operating Officer Sonja Neame Chief Financial Officer Nick Longmire Board of Directors Management Scott Davis Operations Manager - Hillgrove Jim Kerr
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IMARC | OCTOBER 2026 | ASX: LRV15 Corporate Overview 3% 10% 10% 9% 68% Shares on Issue 520,288,899 Performance Rights 24,059,870 Share price (21 October 2026) $0.80 Market Cap (21 October 2026) $416.2M Cash (30 June 2026) $87.9M Debt (30 June 2026) $152.9M Enterprise Value $481.2M Corporate Structure 12-month share price Shareholders Board & Management US Antimony Corp 1832 Asset Management Gage Remaining Shareholders
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IMARC | OCTOBER 2026 | ASX: LRV16 • Building a secure supply of critical minerals for global markets • Hillgrove Mine is Australia’s largest antimony producer • Ramping up antimony and gold production • Tungsten production targeted for 2027 • Exploration targeting increasing scale and extending mine life • Flexibility across commodities & mining areas • Mt Isa Copper Project provides a second platform for future development Hillgrove Mine provides a sustainable and reliable supply of critical minerals, with multiple pathways to build revenue and long-term value Investment Summary
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IMARC | OCTOBER 2026 | ASX: LRV17 Contact Us Suite 1, 88 Broadway Nedlands WA 6009 PO Box 3114, Nedlands WA 6009 T: (08) 6373 0112 E: info@larvottoresources.com W: www.larvottoresources.com ASX:LRV
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IMARC | OCTOBER 2026 | ASX: LRV18 Technically and economically viable high-grade project demonstrating low opex and significant high-margin production target profile JORC 2012 Ore Reserve Estimate 5 Classification Tonnes (mt) Au Grade (g/t) Sb Grade % AuEq Grade (g/t) Cont. Au (koz) Cont. Sb (kt Sb) Cont. AuEq (AuEq koz) Open Pit Probable 0.36 2.0 1.6 6.6 23 5.6 75 Underground Proved 0.40 2.6 2.3 9.1 34 9.2 119 Underground Probable 2.48 3.4 0.9 6.1 248 21.1 442 TOTAL ORE RESERVES 3.01 3.1 1.2 6.6 304 35.8 636 Notes: - Tonnages and grades are rounded. Discrepancies in totals may exist due to rounding. - The total LOM Production Target includes 5% Inferred Resources, 3% Indicated Resources outside of Ore Reserves, and 92% Ore Reserves - (percentages are for contained Au Eq. ounces). - Cut-off grades applied after modifying for dilution. - Gold equivalent (Au Eq.) has been calculated using the metal selling prices, recoveries and other assumptions as outlined in the Mineral - Resources chapter on p36. - Cut-off grades are 1.90 Au.Eq g/t for open pit and 3.30 Au.Eq g/t for underground stoping and 1.30 Au.Eq g/t for underground development 5 See announcement ASX: LRV 6 May 2025, Hillgrove Antimony-Gold Project Delivers Compelling DFS Gold Equivalent Calculation All The gold equivalent is calculated using: AuEq (g/t) = Aug + Sbg x E where E = (Sbp x Sbr) / ((Aup / TOz) x Aur) E = Equivalency Factor Au p = Gold price (US dollars per ounce) Aug = Gold grade (g/t) Aur = Gold recovery (%) Sbp = Antimony price (US dollars per tonne) Sbg = Antimony grade (%) Sbr = Antimony recovery (%) TOz = Troy Ounce (31.1035) A gold price of $US2,500 per ounce, an antimony price of $US22,500 per tonne and total gravity/float recoveries of 83.1 % for gold and 86 % for antimony were used to calculate the Equivalency Factor (E) at 2.897. It is the company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold. JORC Ore Reserve Estimate
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IMARC | OCTOBER 2026 | ASX: LRV19 JORC 2012 Mineral Resource 6 Classification Tonnes (kt) Au Grade (g/t) Sb Grade % AuEq Grade (g/t) Cont. Gold (koz Au) Cont. Sb (kt Sb) Measured 672 3.2 2.8 11.3 70 19 Indicated 4,242 4.5 1.1 7.7 608 47 Measured & Indicated 4,914 4.3 1.3 8.2 678 66 Inferred 3,852 3.7 0.8 6.0 457 31 Total 8,766 4.0 1.1 7.2 1,135 96 Notes: - 2025 Mineral Resource Combined Global (mixed cut offs, mixed underground, open pit, stockpile extraction methods, mixed sulphide, oxide, - transitional material types) - Tonnages and grades are rounded. Discrepancies in totals may exist due to rounding. - Au equivalent (Au Eq.) grade reported using metal selling prices, recoveries and other assumptions (6 May 2025) Mineral Resource cut off and Source: - The underground extractable sulphide mineral resources are reported to a cut off 2.3g/t AuEq with additional reasonable prospects of economic - extraction constraints (6 May 2025) - The open pit extractable sulphide mineral resources are reported to a cut off 0.65g/t AuEq with additional reasonable prospects of economic - extraction constraints. Includes minor surface stockpiles (6 May 2025) - The open pit extractable oxide/transitional mineral resources are reported to a cut off 0.65g/t AuEq with additional reasonable prospects of - economic extraction constraints (6 May 2025) 6 See announcement ASX: LRV 6 May 2025, Hillgrove Antimony-Gold Project Delivers Compelling DFS Mineral Resource Estimate
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IMARC | OCTOBER 2026 | ASX: LRV20 Based on technical and economic studies, the Definitive Feasibility Study referred to in the DFS Summary Report examines the potential of developing the Hillgrove Antimony-Gold Mine by constructing open cut and underground mines and expanding a processing facility to produce gold-antimony concentrate for export and gold doré for domestic refining and sale. The Definitive Feasibility Study outcomes, production targets and forecast financial information referred to in this document are based on low accuracy level technical and economic assessments. The Definitive Feasibility Study has been completed to a level of accuracy of +/- 15% in line with typical Definitive Feasibility level study accuracy. Larvotto has reasonable grounds for disclosing production targets, since approximately 80.9% of the Life-of-Mine (LOM) Production Target is in the Indicated Mineral Resource category, and 19.1% is in the Inferred Mineral Resource category. There is a lower level of geological confidence associated with Inferred Mineral Resources. Inferred Mineral Resources are scheduled later in the LOM as they are at the outer edges and deeper in the Resource Model. While Larvotto considers all the material assumptions in the Definitive Feasibility Study to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated will be achieved. The Mineral Resources underpinning the production targets in the Definitive Feasibility Study have been prepared by a competent person in accordance with the requirements in the JORC Code. The economic outcomes associated with the Definitive Feasibility Study are based on certain assumptions made for commodity prices, exchange rates and other economic variables, which are not within the Company’s control and subject to change from time to time. Changes in such assumptions may have a material impact on economic outcomes. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Definitive Feasibility Study. Cautionary Statement
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IMARC | OCTOBER 2026 | ASX: LRV21 Disclaimer and Important Notices Competent Persons Statement Mineral Resource Estimate The information in this report that relates to estimation and reporting of the Eleanora and Garibaldi Mineral Resource, in accordance with the JORC 2012 Code, is based on and fairly represents, information and supporting documentation compiled by Mr Peter Carolan who is a Member of the Australasian Institute of Mining and Metallurgy. Peter Carolan is a contractor engaged by Larvotto Resources Limited. Mr Carolan has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is 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’. Mr Carolan consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. The information in this report that relates to database compilation, geological interpretation and mineralisation wireframing, project parameters and costs and overall supervision and direction of the Eleanora and Garibaldi estimation is based on and fairly represents, information and supporting documentation compiled under the overall supervision and direction of Mr Carolan. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original report and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. 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 report. Hillgrove Ore Reserves The information in this report that relates to the reporting of Ore Reserves reported in accordance with the JORC 2012 Code is based on and fairly represents, information and supporting documentation compiled by Mr Matt Varvari who is a Fellow of The Australasian Institute of Mining and Metallurgy. Matt Varvari is a former full-time employee of Larvotto Resources Limited. Mr Varvari has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting and Exploration Results, Mineral Resources and Ore Reserves’. Mr Varvari consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. The information in this report that relates to open pit and underground optimisation, mine design, scheduling and cost estimation, is based on and fairly represents, information and supporting documentation compiled under the overall supervision and direction of Mr Varvari. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original report and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. 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 report. Larvotto confirms that all the material assumptions underpinning the production target in the DFS report continue to apply and have not materially changed. Metallurgy The information in this document that relates to metallurgical test work is based on, and fairly represents, information and supporting documentation reviewed by Mr Peter Adamini, BSc (Mineral Science and Chemistry), who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM). Mr Adamini is a full-time employee of SGS Australia owned Independent Metallurgical Operations Pty Ltd, a wholly owned subsidiary of SGS Australia Holdings Pty Ltd, who has been engaged by Larvotto Resources Ltd to provide metallurgical consulting services. Mr Adamini has approved and consented to the inclusion in this document of the matters based on his information in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original report and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. 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 report. Exploration Results and Targets The information in this announcement that relates to the Midas Exploration Target has been compiled by Mr James Kerr, who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and who is Chief Technical Officer of Larvotto Resources Limited, Hillgrove Mines. Mr Kerr has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is 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’. Mr Kerr consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. The Company is not aware of any new information or data that materially affects the information included in this Announcement. All material assumptions and technical parameters underpinning the exploration results in the Announcements referred to continue to apply and have not materially changed. The information in this announcement that relates to the Eleanora-Garibaldi and MMC Exploration Targets and exploration results is based on information compiled by Mr Ron Heeks, who is a Member of the Australasian Institute of Mining and Metallurgy and who is Managing Director of Larvotto Resources Limited. Mr Heeks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is 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. Mr Heeks consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. .