Xtract Resources Plc (AIM:XTR)

Chepica Gold Mine: Quarterly Results Presentation

London – 3 February 2016

2

Aerial view of Chepica Gold Mine

Taken with Phantom 3 Professional Drone

Corporate Overview

We are xtracting significant returns for shareholders We are focussing on getting the basics right We are aiming to deliver consistent results We are working towards continuous improvement We are Xtract Resources PLC (XTR:AIM)

4

Vision – our destination

We want to build a mining house that is profitable and able to

self fund its development and create value for our shareholders

What does this mean?

Develop out projects to build a mining house

Maximise assets in order to generate cash flow

We need a sustainable growth profile and margin

5

Our current reality – where we are

Project level

Producing Chepica Gold mine that has not fully delivered on a consistent basis. We are addressing this.

Improving flexibility

Addressing poor ground conditions

Developing a more robust geological model

Completing the Manica BFS that is potentially significant for the company

Timing to completion is critical – due Q2 2016

Project funding under discussion

Manica alluvial JV partnership with MTI

Finalising production time-line and metrics

Shareholder issues

Inconsistant production & financial numbers

Not hitting our target completion dates

Dilution remains an issue for stakeholders

More effective stakeholder communication

6

Understanding what makes us different

Chepica is a producing mine that can generate cash flow

In Manica we have acquired a significant gold deposit that could transform the company (and that comes with a virtually completed BFS)

We have formed successful partnerships, including MTI, that will allow us to grow our ability to generate cash flow with minimal capital risk

We have built a management team that has a proven track record and have shown that they do not give up untill the job is done

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Strategy – how will we get there?

Ensure that Chepica delivers on its production plan – current cash flow

Investigate viability of Chepica Tailings Project

Start Manica alluvial mining operations within a relatively short period of time, to grow the margin and create more sustainibility in terms of ongoing production

Complete the Manica BFS and secure project finance

Stakeholder communication – this presentation forms the first of many to be given over the course of the next six months to explain the route map and ensure more clarity and transparency in terms of ongoing performance and risk management

These presentations will focus on key milestones in Q2 and Q3 2016:

Manica Gold Project – significant improvement in project metrics & revised timeline

Chepica land option payments

Chepica surface drilling results – estimate of geological potential at Colin

Chepica Tailings project – economic metrics

Manica Resource upgrade

Chepica Resource upgrade

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Manica Gold project

Conditions for completion of the Acquisition

Auroch obtaining necessary Shareholder approval

Approval received on 15th October 2015

Obtaining the necessary approvals under the Mozambique Mining Act relating to the change of control and communicating such change of control to the Mozambican mining authorities.

Final ruling received from the Honorable President of the Mozambique Tax Authority, who determined a total of US$699,000 due in capital gains tax, which clears the way for final approval from the Mozambican government

Final approval from the Mozambican government is expected in Q1 2016, upon which time all conditions will have been fulfilled

In addition, at the Manica Alluvial Gold Project Xtract is completing a total re-design in order to achieve greater economic metrics

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Copper projects – South Africa

Recoveries too low to produce a viable copper concentrate

Tested the dumps for pyrite

Sulphur content too low

Exited from project – no further liabilities or costs

Chepica – Operational review

Chepica turning the corner For the first time we see month on month improvement The mine has never been in such a good production position We are Xtract Resources PLC (XTR:AIM)

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Chepica Gold Mine

Main offices

Plant

Tailings dam

Colin Vent Shaft

Colin adit

Return water dam

Chepica new adit

Engineering workshop

Chepica old adit

Crushing plant & stockpiles

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Chepica – what are our threats?

Having enough reef ends (flexibility) / keeping the mill full

Understanding geological continuity at Colin Section / proper development lay-outs that avoids bad ground conditions when stoping commences

Meeting our land option payment obligations (security of tenure)

First option payment of $380,000 due by end of Q1 2016

The intention is to re-negotiate the timing and terms with land option holder

Zones of weak ground conditions have either stopped or slowed down our development which impacted the timing of stoping operations

Storage capacity of current Tailings dam needs to be increased

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Chepica – what are our tactics?

To continue to develop the reef on 5, 6 and 7 level at the Colin section (developing the A Reef block)

Consider a second decline at Colin to access the B-reef block

Establish Chepica decline on reef during Q2

Complete the surface drilling program at Colin and continue to build geological model

Continue to build surface stockpile from off mine sources

Raise tailings dam wall by approximately 5m (all permissions in place)

Complete a feasibility on mining the Chepica tailings dam – create additional depositional storage and cash flow

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Chepica tailings dam project

±225koz @ 0,6 to 1,5g/t

Tailings dam extension

Processing plant

Surface stockpiles

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Chepica – our business philosophy

“If you keep your eye on the profit you are going to skimp the product (ore-body).

Focus on making great products (getting the basics right) and the profits will flow.” Steve Jobs

We pushed the profit at the expense of the ore-body (and as a result we have not had any flexibility ,which has resulted in inconsistant production delivery)

As a result we have redesigned the entire development lay-out for the mine to ensure flexibility

In order to deliver sustainable and consistent production we have had to prioritise:

Capital and development before profit this quarter

More time spent at start-up to focus on initial infrastructure to mitigate poor ground conditions

Funding of major surface drilling programme to build a more robust geological model

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Q4 Actuals - unaudited

Production

OnreefmetersOnreeftonsOffreefmetersOffreeftonsOnreefgoldgrade(g/t)

OnreefCoppergrade(%)Decline/InclinemetersDecline/InclinetonsStopetons

Stopegoldgrade(g/t)StopeCoppergrade(%)TotaltonsmilledMillGoldgrade(g/t)MillCoppergrade(%)FinancialRevenueCostsProfitCapital

2015QTR3 2015QTR4Planned Actual Planned Actual

150 233 41,25 1524799 7454 5279 19456

50 78 - -1600 2495 - -2,25 3,50 - 3,27

1,00% 1,20% 0,00% 0,80%60 120 515 385

1920 3839 17475 1231717201 3061 5920 1450

2,25 2,40 2,76 1,800,80% 1,00% 1,04% 0,80%

22000 10515 11199 148652,50 1,80 2,85 1,651,00% 1,00% 1,01% 0,75%

1650000 450000 831580 375802350000- 300000- 470459- 167533-

1300000 150000 361121 208269380000 525000

Chepica – Production metrics

Chepica turning the corner For the first time we see month on month improvement The mine has never been in such a good production position We are Xtract Resources PLC (XTR:AIM)

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Mill tons

Tons

-

1 000

2 000

3 000

4 000

5 000

6 000

7 000

8 000

Oct-15 Nov-15 Dec-15

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Stockpile tons (cumulative)

Tons

-

2 000

4 000

6 000

8 000

10 000

12 000

Oct-15 Nov-15 Dec-15

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Surface stockpiles

21

m

Total development metres (m)

-

 50

 100

 150

 200

 250

Oct-15 Nov-15 Dec-15

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Concentrate grade – Au (g/t)

Au (g/t)

40.00

42.00

44.00

46.00

48.00

50.00

52.00

54.00

Oct-15 Nov-15 Dec-15

Target gold concentrate grade is 60g/t

Concentrate gold grade for the quarter has been slightly lower at 47g/t due to the lower in situ value of surface stockpiles reporting at in situ grades of 0.8 to 1.5g/t

Underground in situ gold grades from development have increased from 2.5g/t to 3.5g/t and we expect these values to reflect in the concentrate grade for Q2 2016

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Gold produced in Q4 2015

Oz

-

 50

 100

 150

 200

 250

Oct-15 Nov-15 Dec-15

Chepica – Financials

Chepica turning the corner But the corner has been turned The mine has never been in such a good production position We are Xtract Resources PLC (XTR:AIM)

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Revenue

US$

-

50 000

100 000

150 000

200 000

250 000

Oct-15 Nov-15 Dec-15

26

Costs

US$

-

10 000

20 000

30 000

40 000

50 000

60 000

70 000

80 000

90 000

Oct-15 Nov-15 Dec-15

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Profit/Loss

US$

-

20 000

40 000

60 000

80 000

100 000

120 000

140 000

160 000

Oct-15 Nov-15 Dec-15

28

Capex

US$

-

50 000

100 000

150 000

200 000

250 000

300 000

Oct-15 Nov-15 Dec-15

Development & support

Drilling & 3D Geological software

Plant & equipment & Development

Chepica – Flexibility & Growth

Increased flexibility Developing a robust geological model We are Xtract Resources PLC (XTR:AIM)

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Surface drilling at Colin

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Numereous significant drill intersections

Colin 1: At 76.1m: 2.7m @ 3.86g/t

Colin 1: At 118.6m: 4.3m – awaiting assay results

Colin 2: At 114.8m: 1.5m – awaiting assay results

Colin 2: At 129m: 2m – awaiting assay results

Colin 3: At 55.2m: 1.8m – awaiting assay results

Colin 3: At 116.2m: 10.6m – awaiting assay results

Colin 4: At 49.7m: 1.8m- awaiting assay results

Colin 4: At 116.8m: 2.2m – awaiting assay results

Colin 4: At 126m: 6.2m – awaiting assay results

*Widths reported refer to borehole intersection widths and reflect mineralized zones identified in core

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Colin – mineralized intersection

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Colin mine – general layout

Colin main adit entrance Access to A-reef block

Colin ventilation shaft

Surface boreholes drilled From side of mountain

New decline to access B-reef block

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Drilling at Colin mine

New boreholes drilled from surface on side of mountain

Access development 120m @ 3,27g/t over 3,36m width

Reef projection A-Reef block

Surface

Position of new decline to access B-reef block

300m

3m @ 3,86g/t

Colin adit entrance

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Old & new development adits at Chepica

Old Chepica adit

New Chepica adit

Weak ground

Strong ground

In summary

Consistant delivery Continuous improvement We are Xtract Resources PLC (XTR:AIM)

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Chepica: Mill tons actual per qtr & forecast

Tons

-

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

45 000

50 000

Q4 2015 Q1 2016 Q2 2016 Q3 2016

Mill tons Tailings dam

Only 2 months of production (plant stopped for January)

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In summary

Profit of US$225,000 for Q4

Slow start to the quarter in terms of ensuring greater underground support

Opened up reef on 4 levels

Ready to start stoping on 5 level

Accumulated a surface stockpile in excess of 10kt from off mine sources

Chepica adit 30m from opening up 2 more reef drives

Surface boreholes confirm major mineralized intersections to depth at Colin

Robust geological model in place for first time

All production metrics are trending in the right direction

Major opportunity in mining tailings dam – management estimates additional production of 15,000t per month contributing significant revenue

Contact Details

Media and Investor Enquiries: Justine James Gable Communications 34 Lime Street London EC3M 7AT T: +44 (0) 7525 324431 e-mail: xtract@gablecommunications.com

Company Secretary: Phil Dexter St James’s Corporate Services Limited Suite 31, 2nd Floor, 107 Cheapside London EC2V 6DN T: +44 (0) 20 7796 8644 e-mail: phil.dexter@corpserv.co.uk

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Disclaimer

This presentation (“Presentation”) is being issued by Xtract Resources PLC. (the “Company” or “Xtract”) for information purposes only. The content of this Presentation has not been approved by an authorised person for the

purposes of Section 21(2)(b) of the Financial Services and Markets Act 2000. Reliance on this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the

property or other assets invested.

This Presentation is not an admission document or an advertisement and is being provided for information purposes only and does not constitute or form part of, and should not be construed as, an offer or invitation to sell or

any solicitation of any offer to purchase or subscribe for any ordinary shares of the Company in the United States or any other jurisdiction. Neither this Presentation, nor any part of it nor anything contained or referred to in it,

nor the fact of its distribution, should form the basis of or be relied on in connection with or act as an inducement in relation to a decision to purchase or subscribe for or enter into any contract or make any other commitment

whatsoever in relation to any securities of the Company. No representation or warranty, express or implied, is given by or on behalf of the Company, its directors and advisors or any other person as to the accuracy or

completeness of the information or opinions contained in this Presentation and no liability whatsoever is accepted by the Company, ts directors or advisors or any other person for any loss howsoever arising, directly or

indirectly, from any use of such information or opinions or otherwise arising in connection therewith. The Presentation has been prepared by the management of the Company for information purposes only.

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Issued by Xtract Resources PLC. 4th floor 2 Cromwell Place, South Kensington, London SW7 2JE