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Investor UpdateMay 2017

an emerging gold miner

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Corporate overview

Capital Structure

ASX code REZ

Shares on issue 95.6m

Options on issue 43.0m

Market capitalisation (@14c) $13.4m

12 month price range (cps) 10-17

12 month VWAP (cps) 12

Shareholders

Top 20 Shareholders 61.4%

Number of shareholders 396

Major ShareholdersArthur Phillip Pty Ltd & related entitiesTerra Capital

13.3%

9.1%

Development Timeline

2014 Acquired Mount Mackenzie leases and commenced resource evaluation

2015 Maiden JORC (2012) resources reportedPurchased key property over project area

2016 Acquired Radio projectRaised equity $1m and project development notes $3.7mRadio site works put in place and gold processing equipment acquired. Completed site investigations at Mount Mackenzie for project scoping studies

2017 Radio mine shaft dewatered. Head Frame installed, project management plan approved, face sampling commenced.Mount Mackenzie Metallurgical testing completed, scoping studies to assess development options commenced.

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Key investment pointsCorporate• Focus on brown field gold opportunities, two sites currently being developed• Emphasis on low upfront development costs with potential for organic growth beyond historic areas• Actively reviewing numerous gold opportunities in the 25,000 to 200,000 ounce range• Experienced and engaged board

Radio• Historic mine shaft refurbished and dewatered• Face sampling of exposed lodes include grades of 12 to 54 grams/tonne*• Bulk sampling at Radio mine to commence in June-July 2017• Validation of resource model in progress with view to determining a JORC (2012) resource

Mount Mackenzie• Resource totals 100,000 ounces of contained gold and 634,000 of contained silver (JORC 2012)**, comprising

• Indicated 49,000 ounces (1.1m tonnes 1.3grams/tonne) and ;• Inferred 51,000 ounces (1.2m tonnes 1.2grams/tonne)

• Scoping study for low capital cost start-up option is progressing

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Project summariesRadio

Radio Gold

Lease area 9.8km2

REZ interest 100%

Tenement Standing Granted mining lease, expiry 2036

Resources Historical resource estimates are being evaluated with a view to conversion to contemporary JORC 2012 standards

Project status Mine dewatering and refurbishment of shaft completed. Headframe and winder installed, and underlay egress underway. Face sampling commenced and mine operations scheduled to commence in June 2017

Mt Mackenzie

Mt Mackenzie

Lease area 26 km2

REZ interest 100%

Tenement Standing Granted Exploration Permits with ability to convert to Mineral Development License

Resources (JORC 2012)** Indicated 49,000 oz au (1.1m tonnes 1.3grams/tonne)Inferred 51,000 oz au (1.2m tonnes 1.2grams/tonne)

Project status Scoping studies for Mine Development Options have commencedGeochemical survey over Clive Creek Prospect completed-positive results.

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Radio – background and historic performance

• Radio mine privately owned for 50 years to 1974. Mining ceased in 1970’s after gold prices fell to low of <A$200/oz

• Historic mining extended to 100 meters below surface, and produced 71,000 ounces of gold at a grade of 38.5g/tonne (700 ounces per vertical meter)

• Product rates of up to 3,900 ounces per annum were achieved with small scale, handheld mining techniques

• Acquired by REZ May 2016

Figures provided by previous, private owners of Radio mine

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Radio – site overview• Radio leases are located within Southern Cross

Province of Achaean Yilgarn Craton. Region is a highly productive gold bearing greenstone belt which includes the Copperhead Gold Mine (1 million ounces gold produced to date)

• Regulatory approvals granted for mine operations

• Dewatering of mine completed to level 10 and inspected. Workings are in good condition and minor remedial work is underway

• Site preparation including shaft refurbishment and placement of head frame completed

• Assembly of processing plant due for completion June-July 2017

• Bulk sampling of main lode expected to commence June-July 2017

• Face sampling and survey of workings targeting locations for bulk sampling commenced

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• As a part of the Radio acquisition, REZ acquired most of the required components for a site specific10tph gravity gold plant. This plant is being refurbished and configured to accept bulk sample material

• Tailings material from the gravity process will be stored onsite for subsequent treatment

• Head frame and winding equipment have been installed at low cost. Permit for man-riding expected by June 2017

• Fully functional camp facilities on site

• Compact drilling equipment purchased to test load extents ahead of development

Radio – site equipment

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Radio Project – site equipment

Ball mill 10tph and Radio mine shaft entrance

Dewatering dam

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• Extraction of 5,000 ounces per annum is expected with a minimum operating period of 4 years.

• Expected cash operating costs of $700/ounce (or less)

• At current gold price of approximately A$1,600/ounce, net ash flow of $900/ounce expected

• $18m positive cash flow

Radio Project – on site processing plan

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• Preliminary rock chip sampling undertaken in• development faces,• stoping areas,• loose rock in mine drives

• Systematic lode sampling program being developed to pin point initial bulk stoping mining locations

• Mine services installed underground • Shaft refurbishment completed and skip installed in

shaft• Head frame and man-riding hoist undergoing final

commissioning in preparation for final regulatory approval

Radio Project – underground access

Main Shaft Sump level 10

Main Shaft Bottom looking Up

Services from previous workings at level 10

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Radio Project – underground sampling

Isometric View of Radio Mine Workings recent sample results

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• Systematic and safe access being established to old work areas for the purpose of sampling

• Old workings contain considerable quantities of blasted rock, pending assays this material may prove beneficial to the commissioning of the Radio gravity plant

• Reconnaissance sampling undertaken from selected lode exposures and broken floor rock immediately adjacent to the 10 level shaft access included the following assays*:

• 54.2g/t – 9 Level Footwall Lode• 34.3g/t – 8 Level East Lode• 26.0g/t – 9 to 10 Level Chute grabs• 12.6g/t – 9 Level Footwall Lode

Radio Project – underground sampling

Lode at Level 10 showing exposed ore

Stope Toms at Level 9 showing dip of lode and support

East Lode Ore Chute at Level 9 showing broken rock

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Radio Project – upside potential

• Other prospects that exist within the mining lease include:

• Radio Repeater • Radio Deeps• Manxman• Queenslander• Inspiration South• Maries Find• Magpie

• Once mine operations and gold extraction has commenced, exploratory drilling of other prospects will be undertaken to investigate potential for additional resources.

• Particular attention at confirming down dip and strike extents of existing Radio Lodes-which have yet to be closed off by drilling

• Exploration costs expected to be low and will utilize equipment and staff currently on site

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Mount Mackenzie – background

Mount Mackenzie (MM) comprises 3 Exploration Permits for Minerals (EPM) known as EPM 10006, EPM 17515, and EPM 12546. EPM 10006 is in advanced stage of exploration, and application for higher level of title (ML or MDL) will be lodged during 2017.

These permits are prospective for high sulphidation epithermal Gold and Silver mineralisation. Breccia and porphyry style Gold mineralisation with a poly-metallic (Pb, Zn, Ag, Cu) association has been identified as well.

Drilling Investigations completed by the company in 2015-2016 has has resulted in a Mineral Resource (JORC 2012) estimate comprising 2.37Mt for approximately 100,000 oz of contained gold and 634,000 oz of contained Silver** which includes;

• Indicated Resources: 49,000 oz of Gold, and 455,000 oz of Silver• Inferred Resources : 51,000 oz of Gold, and 179,000 oz of Silver

The resource is amenable to shallow open cut mining at very favourable strip ratios of 2:1.

Mineralisation has not been closed off below current pit floor extents

The tenement package is also host to 3 prospects, which have scope to deliver additional resources to the project inventory, these are known as Instinct, Clive Creek, and Coppermine Creek.

Scoping study targeting shallow oxide and transitional ore for a low capital cost start-up mining option is progressing

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Mount Mackenzie – site location

• MM is approximately 110km northwest of Rockhampton on the Bruce Highway, and then 50km west of the township of Marlborough on the inland road to Sarina.

• In geological context the MM is located within the Connors Magmatic Arc of the New England Fold Belt (NEFB)

• The NEFB has supported most major gold mine development in NE Queensland with over 50 million ounces of gold as well significant amounts of copper and silver produced.

• Significant mines include Mount Carlton, Mount Leyshon, Pajingo, Kidston, Mount Wright, Mount Rawdon, Mount Morgan and Cracow.

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Mount Mackenzie - prospect and tenement locations

• Collectively, the MM tenement package encompasses a surface area of 26km, which are host to 9 prospects:

• North Knoll• SW Slopes• East Knoll• Bald Hill• South Knoll• Instinct• Coppermine Creek• Clive Creek• Quinine Gully• Sphinx Hill.

• The North Knoll and South West slopes have been subject of investigation, which have so far yielded an optimised open cut resource comprising 100,000 oz of Gold and 634,000 oz of Silver as shown in the table**.

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Mount Mackenzie - mine planning and scoping study

• 2016 drilling campaign focussed on strategically located exploration holes to confirm resource extents in the North Knoll, enabling mine planning studies to commence.

• Drilling included 110 metres of HQ3 core size, toprovide samples of oxide, transitional and primary oretypes.

• Scoping studies to guide project feasibility work havecommenced and include:

:• Preliminary Environmental Assessment• Planning and Approvals Regime• Preliminary Mine Planning• Metallurgical Investigations• Processing Options• Geotechnical Assessment• ARD and waste rocks Characterisation

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Mount Mackenzie - metallurgical investigationsSampling

• 850kg of core submitted for comprehensive evaluation by ALS• 5 master composites prepared for leach testing, Optimum Grind size evaluation (120, 106 and 75um) , and

grindability studies including Bond Work Index, Abrasion Index, and SAG Mill Capacity (SMC) Testing• 15 variability composites prepared for leach characterisation

Comminution Testing

• Favourable Bond Work index kWh/t (9.5-12) in all classes of ore • Low Abrasion Index (0.1-0.3) in all classes of ore• SMC test-work indicates ore is soft • Amenable to a conventional comminution circuit in all classes of ore• Low Crusher Specific Energy requirements are predicated based on SMC test results

Leach Testing

• Preliminary bottle roll test-work on RC composites (reported in 2016) confirmed• Optimum Grind Size of 106um -well within conventional CIL/CIP technology• Excellent Leach Kinetics in Oxide and Transitional Ore- +90% of Au recovery in first 4 hours• Excellent Au and Ag recovery in Oxide and Transitional Ore 80-95%• Primary Ore Au recovery down-53-60% but amenable to more aggressive treatment to improve recovery (finer

grind size, and floatation.

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Mount Mackenzie – recent drilling resultsSummary of significant drilling results**

• MMRC695 1m @ 2.02gt/au and 10.9gt/ag from 11mdown hole

• MMRC698 4m @ 1.35gt/au and 10.5gt/ag from 0mdown hole

• MMRC699 23m @ 1.86gt/au and 38.5gt/ag from 0mdown hole, including 12m @2.65gt/au and 58.1gt/agfrom 0m down hole.

• MMDDH702 36.75m@ 2.54gt/au and 28.79gt/ag from13.33m down hole including 28.58m @ 3.09gt/au and32.98gt/ag from 13.33m down hole, and 10m@0.09gt/au and 16.15gt/ag from 50m down hole.

• MMDDH703 19.47m @ 1.46gt/au and 7.85gt/ag from3.39m down hole, and 9.02m @ 1.23gt/au and32.81gt/ag from 43.76m down hole.

• MMRC704 3m @ 1.56gt/au from 8m down hole2016 Borehole Location Plan showing pit shells and mineralisation extents

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Mount Mackenzie – upside potential (Clive Creek)

• The Clive Creek prospect is 4km north of Mount Mackenzie• Historic coincident gold and copper soil anomalies• Two large zones of Alteration-Sphinx and Quinine Gully• Comparable size of Mount Mackenzie• Modern MMI orientation survey completed• 419 samples collected• Results confirm high Au response ratios over historic anomalies • Drill targets identified

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This prospect lies 1 km west of Mount Mackenzie and was discovered in 1999

The host of the mineralization is the late Carboniferous Macksford Andesite which is covered by 400m to 600m of younger, Early Permian, volcanic cover rocks. The deeper resources represent targets for a large mineralised system to the west of Mount Mackenzie.

Mineralisation is evident as:

• Sulphide matrix polymict breccias

• Hydrothermal and probable intrusive origin;

• Multidirectional quartz- sulphide stock-works;

• Vuggy silica alteration, and;

• Haematized zones related to palaeo weathering

Mount Mackenzie – upside potential (Instinct)

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Mount Mackenzie – upside potential (Copper Mine Creek)

• A series of old copper workings is located 1 km north west of Mount Mackenzie

• Copper mineralisation was found in an old pit in andesites of the Lizzie Creek Volcanics on the western slopes of Mt Mackenzie.

• Copper occurs as Malachite, Azurite and Cuprite and possibly represents near surface enrichment of copper mineralisation at depth

• Historical exploration on selected grab sample (CV41) assayed 13.1% copper, 15.6 dwts/short ton silver and a trace of gold (0.1 grams/tonne), Medworth (1974).

• Shallow Diamond Drilling in 1975 west of the Mt Mackenzie workings, and inclined 60 degrees towards the trenches intersected 23% Cu and 259g/t Ag over 0.3m interval from 7m down the hole.

The material in this presentation has been prepared by Resources & Energy Group Limited (“Company”)

This presentation may not be reproduced, redistributed or passed on, directly or indirectly, to any other person, or published, in whole or in part, for any purpose withoutprior written approval of the Company. The material contained in this presentation is for information purposes only. This presentation is not an offer or invitation forsubscription or purchase of, or a recommendation in relation to, securities in the Company and neither this presentation nor anything contained in it shall form the basis ofany contract or commitment.

Any offering of any of the Company's securities to Australian persons will be subject to Australian securities laws. The distribution of this document in jurisdictions outside ofAustralia may be restricted by law, and persons in to whose possession this document comes should inform themselves about, and observe, all such restrictions.This presentation is not financial product or investment advice. It does not take into account the investment objectives, financial situation and particular needs of anyinvestor. Before making an investment in the Company, an investor or prospective investor should consider whether such an investment is appropriate to their particularinvestment needs, objectives and financial circumstances, seek legal and taxation advice as appropriate and consult a financial adviser if necessary.

This presentation may contain forward-looking statements that are subject to risk factors associated with renewable energy business. Forward-looking statements includethose containing such words as "anticipate", "estimates", "forecasts", "should", "could", "may", "intends", "will", "expects", "plans" or similar expressions. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of whichare 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 range of variablesand changes in underlying assumptions which could cause actual results or trends to differ materially. The Company does not make any representation or warranty as tothe accuracy of such statements or assumptions.

This presentation has been prepared by the Company based on information currently available to it. No representation or warranty, express or implied, is made as to thefairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, noneof the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liabilityfor any loss arising from the use of this presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault ornegligence on the part of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party.

* This presentation contains information initially provided in the releases made by the Company to the ASX on 23 May 2017 concerning the Radio mine. The Company isnot aware of any new information or data that materially affects the information included in previous ASX announcements and that all material assumptions and technicalparameters underpinning the estimates in the announcement continue to apply and have not materially changed.

** This presentation contains information initially provided in the releases made by the Company to the ASX on 26 February 2016, 21 June 2016 and 6 March 2017concerning the Mt Mackenzie mine. The Company is not aware of any new information or data that materially affects the information included in previous ASXannouncements and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materiallychanged. 22

DISCLAIMER

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CONTACT

Resources & Energy Group LimitedLevel 13, 52 Martin Place Sydney NSW 2000

www.rezgroup.com.au

For further information please contact:Richard Poole

Chief Executive OfficerE: rjpoole@rezgroup.com.au

T: 02 9227 8900