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Annual General Meeting ‐ 25 October 2018David Morgan, Managing Director

World‐class address

World‐class opportunities

ASX Code: SMD

RC drilling at the Monument Gold Project, WA – October 2017

Notes

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Disclaimer• This presentation has been prepared by Syndicated Metals Limited ("Company") in connection with providing general and background information on the Company.• This presentation should not be relied upon as a representation of any matter that an advisor or potential investor should consider in evaluating the Company. The Company and its

related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of the accuracy orcompleteness of any information, statements or representations contained in this presentation, and they do not accept any liability whatsoever (including in negligence) for anyinformation, representation or statement made in or omitted from this presentation.

• This document may contain certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may causeactual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements.The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representationscontained in this presentation with respect to the Company. Any discussion in relation to Exploration Targets, over and above the stated Indicated and Inferred Mineral Resources isonly conceptual in nature.

• Investors are advised that by their nature as visual aids, presentations provide information in a summary form. Investors are urged to read supporting information in full in ASXreleases.

• This presentation does not constitute an offer of securities in the Company. Nor should this presentation be relied upon by any advisor or potential investor in making an investmentdecision in the Company.

Competent Person’s Statement• The information in this presentation that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Peter Langworthy

who is a Member of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who has sufficient experience relevant to the style of mineralisation and type of depositunder 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 ExplorationResults, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Langworthy is the Chairman of Syndicated Metals Limited and consents to the inclusion in the report of theExploration Results in the form and context in which they appear.

• The information in this presentation that relates to the Estimation and Reporting of Mineral Resources has been compiled by Mr Matthew Karl BSc/MSc. Mr Karl is a full‐timeemployee of Mining Plus Pty Ltd and has acted as an independent consultant on the Korong Deposit Mineral Resource estimation. Mr Karl is a Member of the Australasian Institute ofMining and Metallurgy and of the Australian Institute of Geologists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and tothe activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and OreReserves (the “JORC Code”). Mr Karl consents to the inclusion in this presentation of the contained technical information relating to the Mineral Resource Estimation in the form andcontext in which it appears.

Exploration Targets• This presentation may comment on and discuss Syndicated Metals Limited’s exploration in terms of target size and type. The information relating to Exploration Targets should not be

misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. The potential quantity and quality of material discussed as Exploration Targets is conceptual innature since there has been insufficient work completed to define them as Mineral Resources or Ore Reserves. It is uncertain if further exploration work will result in thedetermination of a Mineral Resource or Ore Reserve.

*References to information of other companies• Refer to the ASX Announcements of Dacian Gold (ASX: DCN) dated 4 November 2015, 28 July 2016 and the Investor Presentation dated 4 April 2016 for further information on the

Dacian Gold projects.• Other Company data sourced from respective Company web pages and presentations.

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Corporate Summary

Leveraged to discovery success; strong shareholder base; experienced team

Ordinary Shares 635.4MUnlisted Options @ 2.26c – 3.12c 13.7M

Share Price @ 24 October 2018 0.5c

Market Capitalisation $3.2M

Cash 30 September 2018 $0.69M

Top 20  shareholders 54.6%

Round Oak Minerals Pty Ltd 28.7%

Harmanis Holdings 3.8%

Jericho Exploration 2.5%

Sun Metals 2.1%

Board of Directors – An Experienced and Focused Team

Peter Langworthy – Chairman Gateway Mining, Ex‐Jubilee, WMC

David Morgan –Managing Director Ex‐Equigold NL, Sundance Resources, WMC

Rob Cooper – Non‐Exec Director CEO – Round Oak Minerals Pty Ltd / Exco Resources

Shareholder Analysis – %

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SHAREHOLDERS Round Oak Minerals 28.7%HNW Investors 16.2%Corporates 2.9%Directors 7.3%Retail 44.8%

Exploration Assets: Western Australia

Currently one project in WA:

Monument Project, Laverton District, WA• 283km2 of exploration tenements• Actively exploring for gold• Recently defined Mineral Resource at the Korong Deposit• Pipeline of new targets identified• Continuing to consolidate and expand the project area• Project area is also prospective for base metals, 

particularly Nickel• Adjacent to Dacian Gold’s Mt Morgans Project (ASX: DCN)

Other WA Projects• Actively investigating the acquisition of other projects 

within WA• Gold, Nickel, Base metals

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KORONG Resource855,000 t @ 1.8g/t,

for 50Koz

Exploration Assets: Queensland

Syndicated retains exploration assets in QLD, but is in the process of divesting most assets.

Southern Hub Project, Mt Isa Inlier, QLD• Executed agreement to sell the Southern Hub Project to 

privately owned Carnaby Resources (ASX announcement 5 June 2018)

• Sale is subject to approval by Syndicated shareholders and the successful IPO and ASX listing of Carnaby Resources

Northern Hub Project, Mt Isa Inlier, QLD• Completed sale of the Northern Hub Project to Minotaur 

Exploration (ASX announcement 23 July 2018)

Barbara Project Royalty , Mt Isa Inlier, QLD• Executed agreement with Round Oak Minerals Pty Ltd to 

relinquish the royalty (ASX announcement 11 Sept 2018)• Sale is subject to approval by Syndicated shareholders

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Southern Hub

Northern Hub

BARBARA COPPER PROJECT

(Round Oak Minerals Pty Ltd)

The Year in Review: Monument Project, Laverton District, WA

Overall, quite a busy year, focusing on Resource definition at Korong and generating new targets across the project area.  Summary of work:

Completed a district and project geological review focused on Intrusion‐Related Gold Systems (IRGS) and Deposits (IRGD) –Targeting syenite related gold deposits

Completed an extensive project wide exploration review encompassing an integrated structural, lithogeochemical, geophysical and geochemical approach and utilising our newly updated data sets.

Conducted an extensive soil sampling programme covering 12km of the mineralised BIF horizon and numerous interpreted felsic intrusions – Numerous new BIF and IRGS targets identified

Identified / confirmed multiple potential Syenite (IRGS) targets ‐Including Korong East, Waihi East & Old Copper South

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OLD COPPERFELSIC INTRUSIVE 

OUTLINE

KORONG EAST

KORONG Resource855,000 t @ 1.8g/t,

for 50Koz

The Year in Review: Monument Project, Laverton District, WA (Cont.)

Conducted a 417 hole (9,904m) aircore drilling programme targeting 3 specific prospects identified by the earlier reviews and soil programme – Korong South, Korong to Old Copper trend and the Korong East felsic intrusion (identified in the IRGD review)

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BIF unit at Monument proven to be mineralised over more than 12km of strike, from Perseverance in the north to Old Copper in the south

BIF unit contains multiple geochemical anomalies and historical ore grade drilling intercepts which require further testing and systematic exploration, including, Perseverance, Korong South, Waihi and Old Copper

The Year in Review: Monument Project, Laverton District, WA (Cont.)

Conducted a strategically focused RC drilling program comprising 19 holes for 2,100m, at Korong, Korong South, Old Copper and Korong East

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Defined a maiden Mineral Resource at Korong, containing 855,000 tonnes @ 1.8g/t Au for 50,000 ounces (ASX Announcement 10 September 2018)

Korong Resource remains open in all directions and is geologically very similar to Dacian’s Westralia Deposit

Obtained granitic samples to assist in understanding the interaction between  geological systems and IRGS potential at the Monument Project.  On‐going….

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The Year in Review: QLD Assets ‐ Divestment Strategy

Northern Hub projects 100%Completion of sale to Minotaur Exploration in July 2018

• $125,000 cash and $275,000 of Minotaur shares received (un‐escrowed)

Southern Hub projects 100%Proposed vending of tenements into the pending Carnaby IPO. Subject to shareholder approval:

• SMD to receive 4 million Carnaby shares @ $0.25• SMD to retain 17.5% free carried interest in the Southern Hub tenements

• Exposure to the consolidation of the high grade Tick Hill Area

Barbara Copper Project RoyaltyProposed relinquishment of royalty from the Barbara Project. Subject to shareholder approval:

• SMD will receive $460,000 in cash from Round Oak Minerals Pty Ltd (owner of the Barbara Project)

Monument Project:  IRGS / Syenite Prospectivity

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Why are we looking at IRGS / Syenite  type deposits?

Known IRGS / Syenite deposits in the Laverton Area include Sunrise Dam (10moz), Wallaby (8moz), Jupiter (1.6moz), Beasley Creek (0.3moz) plus other prospects Cameron Well, Callisto, et al

• Big prize potential ‐ If we can find one! 

The mineralisation associated with these Laverton IRGS / Syenite deposits presents in a variety of styles, but all are related to the structural architecture developed by the intrusion

Generally present as ovaloid magnetic anomalies with stacked flat lying lodes and, often, with limited gold anomalism in surface geochemistry

KORONG(BIF Hosted)

KORONG EAST

CAMERON WELL

ROSETTA

JUPITER

WALLABY

CALLISTO

WESTRALIA(BIF Hosted)

Syenite v BIF Style Deposits:  Cross‐Sections of Jupiter and Westralia

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Source: Dacian Gold (ASX: DCN) Investor Presentation – 4 April 2016

Laverton Syenite‐Related Deposits vs Korong East:Magnetics

Laverton Magnetic Image showing locations of:

• Korong East• Cameron Well• Jupiter• Wallaby• Callisto• Rosetta 

Notes:1) Yellow stars are Au mineral occurrences 

(from GSWA Minedex product).2) Image is a compilation of the GSWA 

regional magnetic data (40m grid cell size) and the detailed Syndicated Metals data compilation (10m grid cell size).

3) Linear RTP image shown, shaded from the NE.

KORONG EAST

CAMERON WELL

ROSETTA

JUPITER

WALLABY

CALLISTO

Laverton Syenite‐Related Deposits vs Korong East:Magnetics (Cont.)

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Cameron WellKorong East

Jupiter

Callisto Wallaby

Magnetic Responses TMI – Same Colour RangeLinear Total Magnetic Intensity (TMI) shown with NE sunshadeProjection: MGA51, GDA94

Mag Amp ≈ 130 nT

Mag Amp ≈ 840 nT

Mag Amp ≈ 100 to 280 nT

Mag Amp ≈ 200 nT

Mag Amp ≈ 270 nT

Monument Project:  IRGS / Syenite Prospectivity (Cont.)

Where should we be looking for syenite targets at Monument?

Where Geological indicators are consistent with the possible presence of syenite:

• Soil samples assays,• Drill hole logs and assays,• Geochemical analyses,• Magnetic signatures vary from high to neutral to low. 

Where there are Regional similarities and trends:• There is an “apparent” regular spacing of known gold bearing syenites along a common NW‐SE alignment across the Celia‐Laverton tectonic zone,

• Potential association between the anomalous gold mineralisation in the BIF unit with nearby syenite intrusives.

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Monument Project:  IRGS / Syenite Prospectivity (Cont.)

Korong East Target and where else? Korong East Syenite Target• Shows as a typical granitic ovaloid intrusion• GSWA mapped granitic/felsic unit• Geochemical Interpreted Granitic/Felsic• Magnetic low

Waihi East Syenite Target• GSWA mapped granitic/felsic unit• Significant gold intersections at nearby Waihi• Poor magnetic signature – Not unusual

Both interesting targets:• Both targets have typical signatures consistent with syenites

• Both locations match the “apparent” regular 10km spacing along the common NW‐SE Wallaby‐Jupiter‐Cameron Well alignment

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Korong East TargetEnhanced Magnetic Image

Waihi East TargetEnhanced Magnetic Image

Waihi EastGSWA Mapped

Granitic/Felsic Unit

WAIHI

ANOMALY 39

ANOMALY 4

Korong EastInterpreted and Mapped

Granitic/Felsic Unit

Korong EastSoil Geochemistry

Granitic/Felsic Minerals

KORONG EAST

Note:  GSWA – Geological Survey of WA

Monument Project:  Next Steps ‐ Priority BIF Targets

The recent work has identified numerous priority targets across the Monument Project

Priority Syenite targets include:• Korong East• Waihi East• Old Copper South

Priority BIF related targets include:• Perseverance• Waihi• Old Copper• Korong RC drilling ‐ Extend known Resource

Staged field programmes are currently being scoped & budgeted and are likely to include:

• Selected geophysics & geochemical analysis• Aircore & RC drilling

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Syenite TargetKorong East

Old Copper Prospect

Possible Syenite TargetOld Copper South

Syenite TargetWaihi EastPerseverance

Soil Anomaly

BIF Unit Horizon

Korong Resource855,000t @ 1.8g/t,

for 50Koz

Waihi Deposit

Syndicated Metals: Key Investment Takeaways

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MONUMENT PROJECT

• Outstanding exploration address

• Experienced team

• Strong shareholder base 

• Clear exploration strategy

• Maiden Gold Resource

• Pipeline of new, high‐priority targets

• QLD divestment strategy providing short term funding

An opportunity to be part of the next significant gold discovery in WA’s world‐class Laverton gold district

DACIAN GOLD(ASX: DCN)

MT MORGANSPROJECTSYNDICATED METALS

(ASX: SMD)MONUMENTPROJECT

Exploration camp at the Monument Gold Project, WA – October 2017

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Thank you. Questions? David Morgan, Managing Director

Outstanding discovery 

opportunities in WA’s world‐class Laverton district 

ASX Code: SMD