CORPORATE PRESENTATION SEPTEMBER 2017

Tethyan is a Junior Explorer a with a focus on gold and copper in the Balkan region of the great Tethyan Metallogenic Belt

AIM:TETH TSX-V:TETH

DISCLOSURE

These presentation slides (the “Slides”) do not comprise aprospectus or other form of offering document relating to Tethyan Resources plc

(“the Company”), and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other

company and should not be relied on in connection with adecision to purchase or subscribe for any such securities.

The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase

securities of the Company or any other company. Your attention is drawn to the risk factors set out below.

This presentation may contain forward-looking statements including, but not limited to, comments regarding the timing and content of

upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related

matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The

Company’s current projects in Serbia are at an early stage and all estimates and projections are based on limited, and possibly incomplete

data. More work is required before geological and economic aspects can be confidently modelled. Actual results may differ materially from

those currently anticipated in this present tion. No representation or prediction is intended as to the results of future work, nor can there

be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be

economic.

The Slides and their contents are directed only at persons who fall within the exemptions from appl cable securities laws and persons to

whom distribution may otherwise lawfully be made. Any investments, inves ment activity or controlled activity to which the Slides relate is

available only to such persons and will be engaged in only with such persons. Peter Mullens Fellow AUSIMM. is a qualified person and has

reviewed the technical information contained herein.

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Agile and experienced Management team• Proven track record• High quality local Serbian

team

Consolidating exploration licenses in the ‘Raska Ore District’, Serbia

• Historicminingdistrict• Drillingatnewtargets at Suva

Ruda andGokcanicaprojects

o Potential for major copper-gold

porphyry atSuvaRuda

Project developer model• Developing a portfolio of

projects up the valuecurve

Attention to delivering shareholder value• Clear and defined strategy

Focus on the Balkan region of the Western Tethyan belt

COMPANY OVERVIEW

Tethyan Resources is a junior

exploration company dual listed on

the TSX-V and London AIM

markets. Concentrating on building

shareholder value by acquiring a

portfolio of early stage precious and

base metals projects in the Balkans

in Europe, with a focus on proven

mineralisation and compelling drill

targets.

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STRATEGY

CORPORATE RESTRUCTURING:

PIPELINE:

PROJECTS:

TEAM:

MARKET: Using recent downturn in commodities markets to discover oracquire a quality portfolio of exploration projects which can bequicklymoved to development stage.

Establishedan efficient and capable local team to progress ourprojects.

Directors have wide-ranging expertise, having been involved in numerous exploration and mine development successes.

The Balkan region is emerging as a highly prospective yet underexplored area for copper-gold and base metal deposits. Tethyan has acquired projects with known mineralisation in proven mining districts in order to fast track to drilling and exploration success.

Tethyan is actively reviewingnew targets and intends to stake or acquire permits over promising mineralised systems in Serbia and the wider Balkan region (Bulgaria,Kosovo, Macedonia).

Recently listed on the TSX-V for better access to North American exploration and mining market, and proposed 6:1 roll-back and de-listing from AIM Market going to shareholder vote on 1st

November.

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Management and the Board have experience in delivering excellent returns for shareholders:

REAL VALUE IS MADE BY OWNING A MAJOR STAKE IN A DISCOVERY

Company Country Project Share Price on

DrillingorAquisition

Share Price

High, Buyout

Acquirer

Andean Resources Argentina CerroNegro (gold) 2 cents C$3.6 billion Goldcorp

Exeter Resources Argentina Cerro Moro(gold) 50 cents C$ 8.80/share Yamana

Bear CreekMining Peru Corani (silver) 50 cents C$ 8.69/share -

Antares Minerals Peru Haquira (copper) 20 cents C$460 million First Quantum

Monterico Metals Peru Rio Blanco (copper-moly) 20 cents £150 million Zijin Group

Aurelian Resources Ecuador Fruta Del Norte (gold) 50 cents C$1.2 billion Kinross

Company Country Project Share Price on

DrillingorAquisition

Share Price

High, Buyout

Acquirer

Lydian International Armenia Amulsar (gold) 40 cents C$ 3.05/share -

Laramide Resources Australia Westmoreland (U) 7 cents C$ 15.79/share -

Aquiline Resources Argentina Navidad (silver) 20 cents C$ 626 million Pan American

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WHERE TETHYANIS EXPLORING

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WESTERN TETHYAN MINERAL BELT

The Tethyan Mineral Belt extends over 10,000km from Asia to the Balkans and is comparable to the Andes and Western US & Canada yet significantly less explored

• Cretaceous and Tertiary age porphyry & epithermal copper, gold & base metalbelts

• Number of significant districts & deposits:

o Chelopech/Elatsite region -Bulgaria

o Bor/Timok region – Serbiao Trepca region – Serbia & Kosovoo Rosia Montana – Romania

• Under explored with modern geophysicsand geochemistry, particularly for gold

Region of Tethyan’s exploration

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SERBIA - A Welcoming Mining Jurisdiction

A rare combination: stable government, pro-mining, low tax,

good geology and open for investment in exploration

• Favourable new Mining Law enacted December 2015 :o Practical new law developed by interaction with

stakeholders including local and international miningcompanies

o 15% corporatetaxo 5%net smelter royaltyo 100% foreignownership and repatriation of profits

• Favourable business jurisdiction asanEU candidatewith political

stability Excellent infrastructure and easy access to markets

• In-country expertise

• Low-cost operating

environment

• Otheractive companies:

o EldoradoGoldo RioTintoo FreeportMcMoRano Nevsuno Dundee PreciousMetals

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THE PROJECTS

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Vojvodina

Kosovo

Tethyan’s

SuvaRuda &

Gokcanica Projects

RAŠKA DISTRICT

The Raška District is one of the 29 administrative districts

of Serbia, it is situated in the south-west of the country.

According to the 2015 census results it has a population of

about 310,000 inhabitants.

The Raška district is made up of 9 cities and 350 villages,

and the administrative center is the city of Kraljevo.

• A region of historical mining, as a part of the former Trepca lead-zinc mining complex

• Pro-mining local workforce

• Existing infrastructure including: water source,

grid electricity, roads, railway line to Adriatic

Coast

• Rudnitza porphyry is on a hill 200m above

surrounding ground; therefore potential low

pre-mining strip

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CONSOLIDATING THE RAŠKA OREDISTRICT

Acquired 297km² in Emerging Porphyry- Epithermal Belt

Promising exploration licenses situated in a well-known historic miningdistrict:

Suva Ruda Project:

• Tethyan holds an option to buy 100%to December 2023

o 2 annual payments of Euro 100k to September 2019

o 100 %buy out for Euro 6 million, plus bonus paymentsto underlying owner relative to mine construction cost

• Potential for major porphyry copper-gold project at Rudnitza

• Tethyan recently drilled at Rudnitza:

o 567m @ 0.28% copper & 0.45 g/t gold (RDD-001) from surface

Includes 30m @ 1.45% copper & 0.4 gold (oxide)

Gokcanica Project:

• Very large altered and mineralised system (7km x 3km), believedto host porphyry potential

Kosovo Projects:

• Recently acquired grassroots exploration licenses containing lead and zinc occurrences in historic geology mapping

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Tota

lAltera

tion

Syst

em

1500m

North

ern

Porp

hyry

Zone

600m

South

ern

Porp

hyry

Zone

750m

SUVA RUDA PROJECT -RUDNITZA PORPHYRY

Total alteration system covers 1500m by 600m area defined by coincident copper - gold- molybdenum anomaly in soil sampling, with two zones of greater than 0.1 g/t gold in soils:

Southern porphyry zone

• Drillhole RDD-001 returned 567m at

0.28% copper and 0.45 g/t gold (includes

30m @ 1.45%copper & 0.4 gold)

• Mineralisation remains open in all

directions with little drilling to date

Northern porphyryzone

• New 600m by 400m geochemical

anomaly discovered by soil sampling in

the north

• Never drill tested

Possible double-headed porphyry with potential at depth

Figure: The Rudnitza porphyry area, contoured gold in soil results highlight the two porphyry centres. Results for drillholes RDD-005 to RDD-008 are pending. 12

SUVA RUDA - DRILLING RESULTS

Table below is to display the Rudnitza copper-gold porphyry

drilling results in ‘gold terms’:

Notes on calculations:

10m min comp length.10m internal waste max,0.3 trigger value AuEq

Au $ 1200per ounce Goldequiv Cu % * 1.57Cu $ 2.75 lb

Hole ID From Length (m) Cu (%) Gold (g/t) Gold Equivalent (g/t)

RDD-001 0 567 0.28 0.45 0.89

RDD-002 96 224 0.24 0.27 0.65

RDD-003 42 291 0.31 0.32 0.81

RDD-004 0 428 0.34 0.27 0.81

RDD-005 6 266 0.22 0.20 0.51

RDD-006 0 460 0.21 0.20 0.53

RDD-007 0 572 0.11 0.16 0.33

RDD-008 138 479.7 0.17 0.24 0.51

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SUVA RUDA PROJECT – RUDNITZA PORPHYRY GEOPHYSICS

Tethyan recently ran

Quantec’s proprietary

TITAN 24 IP technology in

10 lines over the

Rudnitza porphyry to

identify potential

mineralisation, the TITAN

system can identify

targets up to 1,500m

depth.

Interpretation of the data

is expected mid-October.

Figure: The Rudnitza porphyry,

contoured copper in soil results

highlight the mineralised area, IP

lines surveyed in September

2017.

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SUVA RUDAPROJECTLEAD - ZINC POTENTIAL

• Two historic lead-zinc mines adjacent to the

Suva Ruda License with combined historic

(non-compliant) resources estimated in

excess of7Mt

• Kizevak mine mineralisation strikes onto the

Suva Ruda License, historic drilling indicates

good grades on the Suva Ruda license

boundary

• Drilling peripheral to the Rudnitza porphyry

intersected multiple lead-zinc veins as shown

in tablebelow:

Drill Hole From

(m)

To

(m)

Intercept

(m)Pb (%) Zn (%)

Pb+Zn

(%)Ag (g/t)

PDRC 04

-04

161 165 4 1.57 2.67 4.34 16.5

285 293 8 7.11 3.37 10.48 108

326 330 4 2.52 0.76 3.28 43

370 374 4 9.21 11.19 20.4 229

430 432 2 7.82 0.99 8.81 204

504 508 4 11 0.2 11.2 154.5

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GOKCANICA PROJECT

Tethyan has entered into a joint

venture over the Gokcanica

permits

• Porphyry-epithermal target

situated 15km north of Rudnitza

• Roman workings onepithermal

gold and silvertargets

• Dealo Spend $500k by 31st

Decemeber 2018 to earn

51%

o Complete PEA for 70%

o Complete Feasibility

study for80%

o JV partner fund or dilute

to 1.5%NSR capped at

$5 million

• TITAN geophysical survey

completed in September

2017

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SUSTAINABILITY IS GOOD BUSINESS

ENVIRONMENTAL STEWARDSHIP

• Management of drill pads includes: o environmental clean-up is continually carried out, including proper

management of waste and safe disposal of drilling mudso rehabilitation of drill pads and access roads if the site is no longer

needed• Per agreements signed in June 2017 regarding use and maintenance of

local roads, we pay for repair of damage to roads caused by contractors’ drilling rigs and mobile equipment

SOCIAL RESPONSIBILITY

• Since May 2017, Tethyan has employed a full time Community and Land Officer in Raska

• Regular stakeholder engagement taking place with local authorities in Raska and community leaders in local villages

• Community newsletters are regularly prepared and disseminated locally• Policies and procedures regarding land access, damage compensation,

grievance management and community support initiatives publicly disclosed

• For exploration activities requiring access to private land, proper compensation is paid to owners in a fair and transparent way

THE NEXT 6-12 MONTHS …

• September 2017: Completed Dual-listing on TSX-V

o Increase liquidity on share trading

o Gain access to North American Investors and Funds

• Late-September 2017: Completed major geophysical programme at the Rudnitza porphyry

o Tethyan have contracted Quantec’s proprietary TITAN IP system, penetrating to 1,000mdepth searching for high-grade porphyry core

o Interpretation of results expected mid-October

• Early 2018: Drill programme of 3,000m to 4,000m

o Drilling IP targets for buried high-grade porphyry system & build the size of known resource

o 5 to 10 drill holes, 600m to 800m depth

• Ongoing: exploration on early-stage targets

o Gokcanicaproject

o Lead & zinc targets within the SuvaRuda exploration license

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INVESTMENT CASE

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• Management has a proven track record of delivering

shareholder value

o They are an experienced and nimble team

• Focused on acquiring and developing projects and moving

projects up the value curve

• Portfolio approach – Consolidating ‘Raska’ flagship area

o Known mining district

o Have potential flagship development project at

Suva Ruda

o Continuous news flow in 2017-2018

• Well established in the Balkan region of the Western

Tethyan Mineral belt

o Focused on Serbia – a significant historic mining

district

o Ongoing exploration of wider Balkan region

• Strategy aims to create and develop shareholder value

INVESTMENT CASE

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“PEERS” WITH PORPHYRY CU-AU PROJECTS

Mark

etCap

CAD

$M

illio

ns

$640

$320

$160

$80

$40

$20

$10

$5

Staking

AcquisitionFirst Drilling Resources Major Resource Buy Out

Rugby Mining

Medgold

Tethyan

Mundoro

Capital

Norsemont,

Constancia

Euromax 256 m tons @

0.21%Cu, 0.32 g/t Au

Antares,

Haquira

Cordoba Minerals 53 m

tons @ 0.7% Cu, 0.37

g/tAu

Panoro Minerals 521 m

Tons @ 0.29% Cu 0.18

g/tAu

BlackSea

Lumina Gold, Cangrejos

202 m tons @0.1%Cu,

0.62 g/t Au

Sol Gold - Cascabel

Stagesof Company Development

Our Goal is for Tethyan to

be re-rated higher price

(Current market cap

$C10 million).

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COMPANY CONTACTDETAILS

For further information please visit www.tethyan-resources.com or contact:

Tethyan Resourcesplc info@tethyan-resources.com

SP Angel(Broker) + 44 (0)20 34700470

Cairn Financial Advisors LLP (Nomad) +44 (0)20 72130880

Blytheweigh (Financial PR) +44 (0)20 71383204

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APPENDIX

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CORPORATE STRUCTURE & FINANCIALS

Share Price Graph - 12 month period

Major Shareholders %

Southern Arc Minerals 29.91%

Pat DiCapo 5.4%

Frank Brewer 5.3%

Peter Mullens(CEO) 5.1%

Khuanchai Siphakanlaya 4.0%

Alan Fairless 3.0%

Didier Fohlen (ED) 3.0%

Current corporate structure

Ordinary Shares

in issue168,182,052

Shares not in

public hands70,433,336

(41.88%)

Total Directors

Holding11.97%

Warrants in issue 105,560 at 3.48p &2,341,500 at

C$0.036

Options 7,100,000 at 5p &

3,400,000 at2.4p

Current Market

Cap£6.7 million (at 4p)

Cash Position £1.0 m (July 31, 2017)

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BOARD OF DIRECTORS

JOHN PROUST - Non-Executive Chairman

John received the designation of Chartered Director (C.Dir.) from McMaster University, Directors College, Michael G.DeGroote School of Business. He is the founder and principal shareholder of numerous public and private companies. He hasdirected, managed and advised public and private companies regarding corporate strategy and structure, debt and equityfinancing, mergers and acquisitions, and corporate restructuring since 1986. Mr. Proust has held senior positions and servedon the boards of many private and TSX-V/CSE listed companies. He is currently Chairman and CEO of Japan Gold Corp.,Chairman and CEO of Southern Arc Minerals Inc., Chairman of Canada Energy Partners Inc., Interim President & CEO and adirector of Outrider Energy Corp., and adirector of Q Investments Ltd.

PETER MULLENS - Executive Director, CEO

Peter has over 30 years’ of extensive mining and exploration industry experience. He has successfully developed fourCanadian-listed exploration companies and is credited with the discovery drill hole of Pico Machay in Peru and the acquisitionof Navidad (700Moz silver), Calcatreu in Argentina (1Moz gold-silver) and Westmoreland in Australia (50Mlb’s uranium). Hehas strong experience as a geologist and also in the commercial aspects of junior exploration companies including theevaluation of ore reserves, financial studies, mine plans, and the financing of junior exploration companies. He is currently theCEO of AIM listed Tethyan Resources (AIM:TETH) and also a Non-Executive Chairman of Royal Road Minerals Ltd(TSXV:RYR).

FABIAN BAKER - Executive Director, COOBSc Applied Geology, MSc Economic Geology (ongoing). Experience in grassroots exploration through to completion ofBankable Feasibility in frontier and developing countries. Previous roles include Chief Geologist at Lydian International’snewly discovered Amulsar gold deposit andExploration Manager for Tigris Resources, anexploration companywith a focus onan emerging gold and copper district in SE Turkey. In his capacity as COO the management of exploration in Serbia andneighbouring countries is managed by Fabian, who was responsible for identifying the opportunities that lead to Tethyan’sentry into the region.

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BOARD OF DIRECTORS

DIDIER FOHLEN - Executive Director

Engineering Degree from the School of Geology and Mines of Nancy; 36-yrs experience in exploration, development. , miningoperations and mine closure, with a focus on investment in emerging markets, corporate governance, socialresponsibility and environmental management. 15-yrs in the World Bank Group working on mining investments with majoras well as junior mining companies. Significant experience in gold and uranium mines in Africa, Canada and Former SovietUnion, including Caucasus, Russia and Kazakhstan. Didier has worked with, financed and consulted to, many major andjunior companies on exploration, development and mining projects in 40 countries across 6 continents.

GOKHAN KANTARCIGIL -Non-Executive Director

Gokhan has over 15 years’ experience in the mining and engineering industry. In 2008 he was a founder of a private Turkishmining and exploration company called VTG Holdings, which he is currently CEO. Gokhan was been involved in the discovery,construction and production of the Brummersheim coal project in South Africa which is currently producing in excess of 1 mtof export quality thermal coal per year. Gokhan then bought the Caldag Nickel project located in Western Turkey from AIMlisted ENK. He has moved the project forward to a production decision and acquired all mining permits, environmentalpermits and social licenses needed. Gokhan is an entrepreneur and investor and currently looking at acquiring and developingmining projects.

DR MIKE ANDREWS - Non-Executive Director

Mike is a geologist with more than 35 years of research and mining industry experience in gold, copper, coal and ironexploration. He holds an honours degree in Geology from the University of Reading, and a doctorate in explorationgeochemistry from the University of Wales. Mike is currently President and Chief Operating Officer of Southern Arc Minerals,President and Chief Operating of Japan Gold, and aDirector of Q Investments. He played an instrumental role in the discovery,exploration, feasibility and development of the Way Linggo Gold Mine in Indonesia. He also held the positions of executivedirector and chief geologist of AuIron Energy Ltd., Director of Gold Operations for Meekatharra Minerals Ltd., and managedthe Teck-MM Gold Indonesian Joint Venture, an exploration portfolio of thirteen gold and copper projects in Indonesia. He alsoheld senior exploration positions with Ashton Mining Ltd, Aurora Gold Ltd and Muswellbrook Energy and Minerals Ltd.

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MANAGEMENT

TIM COUGHLIN - Adviser – Geology

PhD (Structural Geology), MSc Exploration and Mining Geology, BSc Geology, FAusIMM, MSEG. 26 years of experienceincluding senior positions with major mining companies. Founder of Lydian International having discovered and raised financefor the exploration and development of the +5Moz Amulsar gold deposit in Armenia, led successful discovery teams inAustralia, Peru, Colombia and Eastern Europe. Specialist in frontier mineral exploration and mining investment in emergingenvironments such asSouth America, the Caucasus, the Balkans and Russia.

SOL THACKER - Chief Financial Officer & Corporate Secretary

Sol is a Chartered Accountant and Member of the Institute of Chartered Accountants in Australia and holds a Bachelor ofBusiness from the Queensland University of Technology. Sol has managed the accounts and administration of the Company’sprincipal trading subsidiary, Tethyan Resources Jersey Ltd, for the past four years and therefore has detailed knowledge of theCompany’s operations. Additionally Sol has extensive experience in UK accounting standards and previously held the positionof CFO of TSX-V listed Royal Road Minerals Ltd, making him well suited to the role.

ALEKSA DJOKOVIC - Project Geologist

With MSc equivalent in geology, Aleksa has 5 years of experience with exploration companies including Mineco, DunavResources and Avala Resources (now Dundee). Through this work he gained experience in various different types of mineraldeposits in Serbia. Most recently he was apart of Mineco’s Project Delivery Teamwhere he gained significant experience fromboth underground and open pit operations and also strengthened his management and project leading skills.

TIJANA MOMCILOVIC - Geologist

With MSc equivalent in geology, Tijana has more than 4 years experience with international and local exploration and miningcompanies in Serbia. Through this work she gainedexperience in different types of mineral deposits in Serbia,mostly porphyryand epithermal deposits. Tijana is focused on exploring for new areas of mineralisation within the SuvaRuda permit.

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MANAGEMENT

NICK SAVIC - Regional Manager

A Serbian national, Nick qualified as a geologist in the late 70’s, following which he emigrated to Western Australia where heworked for a number of major companies for 20 years. Nick was approached by Dundee Precious Metals in the early 2000’sand asked to establish Dundee Precious Metals in Bulgaria and Serbia where Nick remained as Country Manager for anumber of years. More recently Nick managed the country entry for First Quantum Minerals into Serbia. Nick hasunparalleled exploration and related administrative experience in the Balkans region and is assisting and advising Tethyan onall local administrative aspects in Serbia and Bulgaria.

MARKO MILETIC - Community & Land Officer

Born Serbian and local to the Raska district (where the Suva Ruda project is located), Marko has been working for decades onadministrative, and operations management jobs in Serbia and abroad. This experience in marketing, trade, and logisticsindustry has enabled him to gain valuable skills, such as leadership, organizational and time managing skills. Furthermore,working abroad (Africa) made him comfortable working in multinational and multicultural environment. Additionally hefluently speaks Serbian, English, and Spanish.

Marko is leading Tethyan’s community engagement and implementation of our environmental policy.

ANDJELIJA VUJOVIC - Office Manager

Andjelija is a Serbian national, with a BSc in Management from London School of Economics (LSE) and an MBA degree fromthe International University of Monaco. She has more than 20 years of experience in public relations, public speaking,marketing and consulting specializing in innovation, place branding and place management. Andjelija has worked for Societedes Bains de Mer de Monaco and Fairmont Hotel, Monte Carlo, Monaco, as a strategy and innovation consultant, and wasinvolved in overseeing innovation implementation.

She is currently managing Tethyan’s Belgrade office and assisting with local Serbian and international marketing and investorrelations.

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