Announcement PDF ASX:NFL LAS ALTERAS, ARGENTINA URANIUM PROJECT APRIL 2024 IMPORTANT NOTICES AND DISCLAIMERS Presentation: This presentation has been prepared and issued by Norfolk Metals Limited (ASX: NFL, Norfolk or the Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company and its advisers have not verified the accuracy or completeness of the material contained in this presentation. Forward-looking statements: This presentation contains forward looking information about the Company and its operations. In certain cases, forward looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Not financial product advice: This presentation is not financial product nor investment advice or a recommendation to acquire securities in the Company. It has been prepared without taking into account the objectives, financial situation or needs of individuals Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice No offer: This presentation and its contents are not an invitation, offer, solicitation or recommendation with respect to the purchase or sale of any securities in the Company in any jurisdiction and 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. This presentation is not a prospectus or any other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. Competent Person Statement: The information in this presentation that relates to exploration results, is based on, and fairly represents, information and supporting documentation prepared by Mr Leo Pilapil, a competent person who is a member of the Australian Institute of Mining and Metallurgy. Mr Pilapil has a minimum of five years’ 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 Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Pilapil is a related party of the Company, being the Technical Director, and hold securities in the Company. Mr Pilapil has consented to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Presentation cover image: Image from the Cerro Solo region ASX:NFL 2 ARGENTINA URANIUM NUCLEAR INDUSTRY – CURRENT LANDSCAPE ► Argentina has 3 nuclear reactors operating along with small modular reactors (SMR) under construction plus negotiations for the possible construction of a fourth nuclear power plant are ongoing https://www-pub.iaea.org/MTCD/Publications/PDF/CNPP2021/countryprofiles/Argentina/Argentina.htm#:~:text=Argentina%20has%20three%20nuclear%20power,%2C%20and%20E mbalse%20(CNE) ► Argentina currently imports approximately 500,000 lbs of U3O8 annually https://blueskyuranium.com/assets/docs/Argentinas-Expanding-Nuclear-Energy-Industry-Needs-DomesticUranium-Supply.pdf ► No significant uranium production in the country ► With rising uranium prices, there is a likely exploitation of known resources previously defined at Cerro Solo, Laguna Salada, Sierra Pintada, and Ivana Atucha Nuclear Energy facility in Buenos Aires ► Integrated exploration at an Argentinian basin level has not been carried out and the known resources are plausibly only a fraction of country’s uranium potential ► Centre for Nuclear Energy in Agriculture Centro (CNEA) controls Argentina's uranium market (since the 1950s) however this may change with the new administration and current uranium price environment Arroyito Heavy Water facility in Neuquen CHUBUT URANIUM DISTRICT LAS ALTERAS PROJECT ► Via Greenshift Commodities Ltd (GCOM) subsidiary Buenavida Metales S.A; Norfolk has exclusivity to 22 claims totaling 60,396 hectares know as the Las Alteras Project ► Las Alteras project is a uranium project portfolio along Paleochannels and Calcrete environments favorable to giant uranium deposits ► Las Alteras land package represents a significant opportunity to be a major uranium explorer within the Cerro Solo District ► Fluvial and pyroclastic sediments constituting the Chubut Group settled down upon a Jurassic age basement ► These Jurassic volcanics (grouped as the Marifil Formation) covered much of eastern Chubut and Rio Negro and potentially supplied the material that makes up the Chubut Group sediments that host the mineralization ► Uranium hosted with pyrobitumen, indicating fluid mixing with methane. Potential for major uranium district with in-situ leach mining extraction considerations CHUBUT PROVINCE – HIGHLY PROSPECTIVE JURISDICTION NFL SECURES RIGHTS TO STRONG POSITION SURROUNDING PREMIER CERRO SOLO DISTRICT ► Legend GCOM properties Third party properties Los Adobes CNEA properties Historical production (open pit) Cerro Condor Historical production (open pit) Uranium Projects LAS ALTERAS PROJECT Radiometric anomaly Uranium activity Chubut is also host to other significant resources and exploration projects not included on map (left) such as ISO Energy’s Laguna Salada³ non-JORC foreign estimate* of 10.1m lbs U308 Resource references: ¹Meseta Central https://www.uramerica.co.uk/assets NI43-101 Technical Report for a Mineral Resource Estimate (‘MRE’) totalling 27.9 million tonnes with an average grade of 310 ppm eU3O8 for a contained 19.1M lb of eU3O8 using a cut- off grade of 200 ppm ²Cerro Solo https://unece.org/DAM/energy/images/UNFC_Reserv/publications/1 919051_E_ECE_ENERGY_109_WEB.pdf 4,420 tU ≤ USD 130/kgU 20 Km 3Laguna Salada https://www.isoenergy.ca/portfolio/argentina/laguna-salada/ NI43-101 10.1m lbs U308 Indicated 6.3M lbs & Inferred 3.8M lb Meseta Central¹ 19.1M lbs eU3O8 Non-JORC foreign estimate* (NI43-101) MRE – Mineral Resource Estimate 27.9Mt Cerro Solo² 11.49M lbs U3O8 Non-JORC foreign estimate* (NEA/IAEA) RAR – Reasonably Assured Resources 4,420 tU Radiometrics: Solis, R., Mallet, R.; 1980. Informe final de la Obra 70 Ex. Prospección radimétrica aérea de un área de 100.000 km2, en las Provincias del Chubut y Santa Cruz. CNEA. Informe Interno CNEA Cerro Solo District Sudamérica Argentina *Cautionary Statement: the estimate of mineralisation in respect of Meseta Central (NI43-101), Cerro Solo (NEA/IAEA) and Laguna Salada³ (NI43-101), reported in this announcement are “foreign estimates” for the purposes of the ASX Listing Rules, and accordingly: the estimate is not reported in accordance with the JORC Code; a competent person has not done sufficient work to classify the foreign estimates as mineral resources or ore reserves in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code. In relation to Cerro Solo deposit the conversion of 4,420 tU to U308 in lbs is as per 1 MT U in U3O8 = 2,599.79 lbs. U3O8; please see conversion table via https://www.uranium.info/unit_conversion_table.php See Classification of Uranium Resources by IAEA here https://www-pub.iaea.org/MTCD/Publications/PDF/te_1035_prn.pdf CERRO SOLO DISTRICT STRATIGRAPHY REGIONAL GEOLOGY AGE FOMATION CICLE LITHOLOGY URANIUM PROJECTS LAGO SECO LAKE PUERTO UBER Tc MARINE CHACAYCURA LAKE MED CHANNEL LOWER PY-LG JURASSIK PYROCLASTIC LAGOON CHANNEL LOW ENERGY CAÑADON ASFALTO CHANNEL HIGH ENERGY VOLCANICO CLASTICO CHANNEL LAGOON ARROYO DEL PAJARITO LOS ADOBES LONCO TRAPIAL SIERRA CUADRADA (PICHE RESOURCES) LAGUNA COLORADA BARDAS COLORADAS LA QUEBRADA PUESTO LA PALOMA CHUBUT GROUP CRETACEOUS ► The San Jorge Basin currently represents the largest and most prospective district for uranium in Argentina CERRO BARCINO UPPER BARDAS COLORADAS PUESTO MANUEL ARCE PYROCLASTIC LAGOON CALCRETE CERRO CASTAÑO Q ► These formations occur at depth of 200 meters over areas of Las Alteras tenements east of Cerro Solo ► Several other uranium horizons occur higher in the stratigraphy. Note Puesto Manuel Arce fluvial horizons near the top of the Cretaceous units also contain U3O8 (e.g. Piche Resources) MMB PAMAPA DE AONIA ► Cerro Solo hosted in the Arroyo Del Pajaro Member of the Los Adobes Formation. Basal Cretaceous immediately above Canadon Asfalto member (reduced) GROUP LOS ADOBES CERRO CONDOR CERRO SOLO (CNEA) LAS ALTERAS PROJECT REGIONAL GEOLOGY ► Cerro Solo sits adjacent to probable 290 degree trending inversion structure, in lower Cretaceous sediments, Los Adobes (light green) sitting above purple Jurassic Volcanics ► CNEA drill holes within Arroyo Perdido intersected encouraging radiometric readings (U3O8 indicator) on same structure as Cerro Solo https://unece.org/fileadmin/DAM/energy/se/pdfs/UNFC/ws_I AEA_CYTED_UNECE_Oct12_Lisbon/14_Lopez.pdf Regional Geology Puesto Manuel Arce Middle K Volcanics Los Adobes Lower K Fluvial seds Jurassic Volcanic Las Alteras Western Block Las Alteras Eastern Block CERRO SOLO Arroyo Perdido 20 Km ► Las Alteras tenements to the east sit either in Los Adobes or in slightly higher stratigraphic position with Cretaceous volcanic outcropping (darker Green).The Los Adobes formation occurs at approx. 150 – 200 meters depth. LAS ALTERAS PROJECT Major 290° trending basin inversion structure CNEA drill hole in Arroyo Perdido Prospect Uranium projects GCOM tenements 20 Km 40 Km LAS ALTERAS EASTERN BLOCK AREA NEAR ARROYO PERDIDO PROJECT ► Target areas identified by CNEA at Arroyo Perdido project, east of Cerro Solo surrounded by Las Alteras land holding ► Previous work by CNEA has identified prospective stratigraphy and radiometric logs in the basal Los Adobes formation, similar to the Cerro Solo uranium deposit Arroyo Perdido Prospect location Arroyo Perdido Project GCOM property Regional Fault Modern sediments Arroyo Perdido (CNEA) Sandstones & sediments Jurassik volcanic rocks 20 Km ARROYO PERDIDO ZONE NORFOLK STRATEGY AND ADVANCEMENT ► Complete due diligence on Las Alteras project ► Establish an exploration team and office in Mendoza, Argentina ► Target other opportunities including potential to participate in Government Joint Ventures ► Construct GIS data base of uranium projects which include further potential acquisitions with Rio Negro, Chubut and Santa Cruz flagged as highest priority ASX:NFL 9 THANK YOU Contact: Norfolk Metals Limited. Suite 10, 85-87 Forrest Street Cottesloe WA 6011 info@norfolkmetals.com.au www.norfolkmetals.com.au ASX:NFL 10