Outlook of Australian Mineral Sands Supply &

Avonbank Project Update

WIM Resource Pty Ltd

Global Titanium Feedstock Conference 2017

May 2017

Kunming, China

All information provided by WIM Resource Pty Ltd is in good faith and to the best of our knowledge. WIM Resource Pty Ltd is not responsible for literature misinterpretation

of the contents and wrongly use of the information based on those misinterpretations. No liability is accepted for error or omissions in this presentation or other published

Documents;

Users of these information should determine the suitability for their particular requirements, and ensure that they meet the relevant regulations for their country of intended

use, as these may differ greatly from country to country;

Please feel free to contact our staff, who would be happy to discuss your specific regulatory issues. WIM Resource Pty Ltd reserves the right to alter, delete or make

obsolete any information in this presentation or in published literature without prior notice;

WIM Resource Pty Ltd accepts no liability for any interference with or lost to a user’s activities occurring in connection with or relating to this presentation or its use;

Users are encouraged to take appropriate and adequate precautions to ensure that whatever is selected from this presentation is free of misinterpretation that may interfere

with the user’s decision making and activities.

Disclaimer

Outlook of Australian Mineral Sands Industry

Although signs of recovery have started to show in downstream sectors of titanium and

zirconium industry since 2016, new project investment in upstream resource sector is still

insufficient. Consequently, newly added production capacity in the next 3 years is expected to be

very limited;

Many current operating mines will be gradually closed down, and inventories will be sold out;

Unit production cost of existing mines will rise significantly: grade of in-situ ore is gradually

reducing, and strip ratio will increase;

Newly developed projects are facing various challenges: high infrastructure costs in regional

areas, lower %THM, higher trash HM components - the proportion of valuable minerals in HM is

getting lower, and the proportion of zircon in HM is getting lower;

Australian ilmenite supply is expected to show a downward trend in the next 3 years; it is expected

zircon supply shortage trend will appear by the end of 2017.

Decrease of Ilmenite supply from major Australian mines is due to appear in the next 5

years, and the pigment producers becoming more integrated in the mining cycle in

order to secure long term supplies

Currently Iluka has only one active mine in Australia (Tutunup), it is expected to

start-up Cataby in 2019 to provide feedstock for its SR plant

Sibelco’s North Stradbroke Island Project is expected to close in 2019

Tronox & Cristal to combine and likely to process all Ti through to pigment,

internally

New significant Ilmenite supplies reliant on the start up of large "Offshore Deposits"

after 5 years

WIM150, Donald, Avonbank & Thunderbird Offshore HMS Projects

Outlook of Australian Titanium Supply

About Us

WIM Resource Pty Ltd - an emerging

Sydney – based mineral sands resource

development company;

Resource status:

• WIM owns 100% of three HMS Projects:

Avonbank, Wedderburn and Bungallaly,

located in the world-famous Murray Basin

• Cumulative total JORC compliant

resource of near 1 billion tonnes of ore;

Company vision: Think ahead, Move

ahead -- with the aim of becoming one of

the world’s leading mineral sands

producers

5

Avonbank Project Location

➢ The Avonbank Project is located in the southeast of Australia, 300km northwest of Melbourne – the Capital

City of Victoria;

➢ Areas surrounding and within the project area is cleared of major native vegetation - area is mainly used for

cropping and grazing. The regional center – Horsham has a population of around 20,000, sits ca. located 15

km to the south of the project area.

Evaluation

MetricsNotes

ResourceAvonbank project JORC resource estimate (Indicated and Measured) stands at 463Mt @ 4% HM which could support a

mine life of over 32 years assuming a 1,500 tonne per hour ore processing speed.

GradeAverage HM grade ca. 4% including a high grade portion averaging 5.8%, VHM values in HMC from drilling are as high

as 82.2%;

MineralogyZircon content in HM is approximately 20.5%, rutile 2.8%, leucoxene 24.6%, ilmenite 32.8%, monazite 1.2%, and

xenotime 0.3%;

Mining Conditions

The deposit is consistent in the central block, with an 8km strike length (North-South), cross strike width of 6 Km, ore

body thickness averaging 8-12 meters. Preliminary studies on local groundwater indicate no major issues for dry mining

technique - which is favorable for mining cost control, strip ratio is estimated at 1.4:1 within central block of deposit;

Infrastructure

Existing infrastructure within close proximity of the project area such as road, railway, port, electricity, water, gas,

telecommunication. 15 Km to the regional center of Horsham, which has as an extensive range of equipment and

service providers;

Environment and

tenement

Project Area mainly used for agriculture, PFS indicates no major cultural heritage or environmental constraints. Project

area is secured by Retention License (RL2014), held 100% by WIM Resource Pty Ltd, for a period of up to 21 years

Avonbank Project - Overview

➢ Operating rail loading facility in centre of project

➢ Existing direct rail connection to Port of Melbourne

➢ Existing rail connection to Port of Portland

➢ Existing major water supply trunk nearby, with sufficient

water allocation availability

➢ Existing major power corridor running through project

➢ Existing skilled workforce and major township 15kms

from project

Existing Infrastructure

Pre-Feasibility Study - Near Completion

• 463Mt @ 4.0% THM (Measured and Indicated)

• Over 20km Drilling

• Low Strip Ratio (1.4:1)

MEAURED JORC RESOURCE

• High VHM

• Over 20% Zircon in HM

• 2-3% Rare Earths in HM

• Over 50% Titania in HM

QUALITY MINERAL ASSEMBLAGE

• Standard dry mining

• Standard MG12 spirals for WCP

• Standard dry MSP

STANDARD PROCESSING

Avonbank Project - Drilling on Site

Sheet-like Consistent Deposit

Mineralogy – High Zircon, Monazite and Xenotime

Zircon Grade Distribution Monazite Grade Distribution Xenotime Grade Distribution

20t BULK SAMPLE TEST

STANDARD WCP STANDARD MSP

Standard Processing Circuit

Bulk Sample Testing

Spiral Model Comparison Study

Ore Preparation

Ore Scrub & Screening

Simple & Conventional MSP

SUPPLY• Produce 75-100Kt/pa

• 32 years mine life

• Ability to flex supply

STABLE, LONG TERM SUPPLY

QUALITY>66.5% ZrO2

• <0.05% Fe2O3

• <0.01 Al2O3

• <0.12 TiO2

• Acceptable U+Th

• D50 = 45um

PREMIUM QUALITY

COST• MG 12 spirals for WCP

• Magnetics & HTR – MSP

• >85% pit-product recovery

STANDARD WCP & MSP

ZIRCON PRODUCTS

RARE EARTH PRODUCTS

SUPPLY7,500-10,000 t/pa REC

Offers a stable, long-term supply

STABLE, LONG TERM SUPPLY

QUALITYPremium Rare Earths

• Xenotime >33% HREO (Dy, Nd & Eu = Critical REO

• Monazite >55% LREO

• D50=46um: less down stream OPEX

PREMIUM QUALITY

COSTProduced as a co-product of

MSP circuit

High Recovery

Low Production Costs

STANDARD WCP & MSP

TITANIA PRODUCTS

SUPPLY175,000 t/pa

Offers a stable, long-term supply

STABLE, LONG TERM SUPPLY

QUALITYSuitable feed for Slag

Upgrade

Synthetic Rutile as future solution -historical pilot scale test successful

PREMIUM QUALITY

COSTHigh TiO2 units 57-60%

Low Production Costs (lower reductant & power related OPEX for smelter)

STANDARD WCP & MSP

Pre Feasibility Study

– Credible Consultants in the Industry

✓ Metallurgical & Process Flow Mineral Technologies

✓ Tailings Study BASF & Outotec

✓ Resource & Mining Model Optiro

✓ Detailed Mineralogy ALS Global

✓ Geotechnical Study ATC Williams

✓ Product Quality Assessment Downstream Chinese Majors

✓ Titania Product Study Outotec & CSIRO

✓ Environmental Study Okologie

✓ Cultural Heritage Study LandSkape

➢ Major changes in Mineral Sands Sector are expected within the next 3-5 years as a result of

the supply and demand dynamics interaction;

➢ WIM style offshore HM deposits represents a new opportunity in HMS sector;

➢ Avonbank Project is a high mineral value, low cost project;

➢ We aim to advance Avonbank project into production within the next 4-5 years, making WIM

the new force in global mineral sands supply;

➢ We highly welcome investors to be involved in our projects.

Investment Opportunity

COMPETENT PERSON STATEMENTS

The technical information contained within this presentation and associated source documents has been compiled by Mr Michael Winternitz & peer reviewed by MrAnthony Mason. Mr Winternitz is full time employee of WIM Resource Pty Ltd as Project Manager & Senior Geologist & is a member of the Australian Institute ofGeoscientists and Mr Mason is WIM Resource’s principal geological consultant, a member of AUSIMM. Both Mr Mason & Mr Winternitz have experience which isrelevant to the style of mineralisation and type of deposit under consideration and to the activity they undertaking to qualify as Competent Persons as defined in the2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

The principal personnel responsible for the preparation and review of the mineral resource or figures, referred to within this presentation and associated sourcedocuments are Mrs Christine Standing (Principal) and Mr Ian Glacken (Principal) of Optiro. The Mineral Resources at Avonbank mineral sands deposit referred towithin this presentation have been prepared by Mrs Christine Standing and reviewed by Mr Ian Glacken. Mrs Standing is a Member of The Australasian Institute ofMining and Metallurgy and Mr Glacken is a Fellow of The Australasian Institute of Mining and Metallurgy and a Chartered Professional Geologist. Both Mrs Standingand Mr Glacken have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person asdefined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mrs Christine Standing [BSc (Hons)Geology, Grad Cert (Min Econs), MAusIMM, MAIG] is a geologist with over 30 years’ extensive experience in the exploration and mining industry. She has beenconsulting in resource estimation and generating independent experts’ reports since 1988, and her skills include resource evaluation studies, grade control andreconciliation work. Christine is a Principal for Optiro in Perth and is involved in resource estimation, independent technical reviews, audits and valuations ofexploration assets.

DISCLAIMER

The details set out in this document is based on scoping study level of accuracy only (+/-35%), modelling or any metrics contained within this document areconsidered preliminary or conceptual in nature, based on work completed on the Avonbank Project & benchmarking from other similar HMS projects. All productiontargets are as such; conceptual in nature and are expected to change after further studies are completed.

COMPETENT PERSONS STATEMENT

WIM Resource Pty Ltd

Eddy Wu - CEO

+61 423 233 625

ewu@wimresource.com.au

Sydney Office Contact Details

Suite 2004, Level 20, 201 Elizabeth Street, Sydney, NSW，2000，Australia

+61 2 9264 1990