DEVELOPING NEW MINERAL SYSTEM MODEL FOR CLONCURRY

POTENTIAL GAME CHANGER

Links to Olympic Dam and Prominent Hill deposits
Includes new economy metals endowment

The Cloncurry region is attracting renewed interest on the back of new expert geological interpretations that offer alternative depositional models, with links to Olympic Dam and Prominent Hill deposits and potential game-changing discovery opportunities.

Recent expert reports are suggesting that Co-Cu-Au-REE mineralisation in the Cloncurry district was caused by post-tectonic mantle plume magmatism between 1590 and 1480 million years ago. This caused Australia to break away from western North America when the supercontinent (termed Columbia) broke up.

Mineral deposits, for example, at Olympic Dam and Prominent Hill (SA), Starra, Ernest Henry (Qld) and in the Idaho Cobalt Belt (USA), all formed during this event.

Transition’s Cloncurry tenement package therefore offers significant opportunity for discovery, particularly in areas that were historically poorly understood and whose economic potential has not previously been recognised.

Many previously overlooked areas have now become fertile ground for new Tier One focused exploration activity.

RESULTS DRIVEN, INNOVATIVE AND PRAGMATIC

POINTS OF DIFFERENCE

Positioned to benefit from the developing new mineral system model for the Cloncurry region.

  • Exciting, new clean‐skin venture with no overhang or asset baggage. All assets 100% owned.
  • Small (pragmatic) corporate footprint, majority of expenditure directed to field activities.
  • Agile, pragmatic and opportunistic management style (success possible from various outcomes).
  • Attractive risk/reward scenario for investors (with genuine revenue and blue-sky discovery opportunities).
  • Strong regional/local knowledge and contacts (critically important in regional Cloncurry).
  • Large strategic tenement position in world class mineral province
    • Exploration Permits for Minerals (EPMs) = 1036 km2
    • Mining Leases (MLs) = 51.5 hectares
  • Historically poorly understood
    new mineral system model transforms overlooked tenements into fertile new opportunities on three fronts:

    1. High‐value rare and technology metals focus
    (Au, W, REE+Y, Co, Sc, +/‐ Cu)

    2. Shallow, high‐grade mid‐scale copper focus
    (Cu, Au, Co)

    3. Deeper large‐scale Tier One exploration focus
    (Cu, Au, Co, ?)

  • Includes areas overlooked by explorers for decades
    many areas last explored in a period when 5% Cu was considered “low‐grade”
  • Close to excellent regional infrastructure
    transport including jet airports, national highways and rail operating mines, grid power and water regional centre for goods and services, labour, equipment and accommodation
  • Short trucking distance to operating mines
    including near operating mines, and mines on care and maintenance
  • Existing JORC 2012 resource (indicated & inferred – externally generated).
  • Existing non-JORC 2012 resources (inferred – internally generated).
  • Existing resources can be increased through minimal additional drilling.
  • New resources can be generated (from historical drilling) with minimal additional drilling.
  • Growing surface resource inventory of historical “mineralised waste” piles.
  • Existing Resources to be mine optimised for possible near-term development.
  • Game changing new mineral system model
    overlooked tenements become fertile opportunities
  • New greenfields critical metals discovery (Highway)
    world first greenfields discovery, unknown in the region validates new mineral system model Au‐W‐REE‐Sc‐Co
  • Success (cobalt) Mine
    one of only three historical cobalt producers in Qld produced ore at average 13.5% Co and 37% Cu Co‐Cu‐Au
  • Tier One focus
    Cu‐Co‐Au‐W‐REE‐Sc‐Ni‐Pt‐Pd
  • Regional‐scale targeting
    21km prospective corridor larger‐scale deeper systems
  • New high‐resolution geophysics programmes
    one of the most significant new sub‐surface geophysical records in Queensland areas obscured by transported cover with known mineralisation along strike larger, deeper Tier One anomaly profiles
  • Large soil sampling programmes ongoing
    combined with proprietary new prospect identification method back‐to‐basics field approach identifying new mineralised systems.
  • Walk‐up targets now drill‐ready
    hundreds of historic pits and workings never explored with modern methods.
  • Drone deployment optimising field efficiencies
    providing valuable first‐pass reconnaissance.
  • Progressing development plans to establish a small-scale mineralised waste retrieval and upgrading operation at its Chinaman Mine Mining Lease (ML90088).
  • Plans to generate a saleable copper oxide ore product from existing mineralised waste piles sourced from ML90088 and the surrounding tenements.
  • Responsible ore retrieval and progressive rehabilitation model would result in net environmental benefits.
  • Innovative mining, development and processing model (expedite development; do it small, do it quick, do it often and scalable to any project size).
  • Focused on new economy metals including copper, cobalt, gold, rare earth elements and technology metals including Tungsten and Scandium.
  • AUD/US forex structural relationship provides strong natural hedge to copper and gold.
  • Low AUD providing excellent pricing environment for cobalt, with many forecasts predicting significant increases in US cobalt price.
  • Global growth of renewable energy market and migration to electric storage more generally, is pointing to a very favourable period in commodity cycle for new economy metals.

OUR MISSION

Is to monetise new or existing mineral resources in an environmentally, socially and economically sustainable way, for the benefit of all stakeholders.

OUR VISION

Is to achieve our mission and, create a company committed to innovative and creative thinking that will deliver first‐class mining exploration success, development and production and make Transition a stand‐out within the industry.

OUR PURPOSE

Is to achieve our vision through thought leadership, to drive exploration and production success; self-fund development and growth initiatives; and return excess funds to shareholders.

OUR STAKEHOLDERS

Include, but are not limited to: the company shareholders; board of directors; executive and management; staff and personnel; contractors; indigenous and pastoral landowners; local community; environment; local council; local and state authorities, including road, rail, emergency services and police; state and federal governments; and business partners including suppliers, buyers and industry supporters.

OUR CAPABILITIES

And strengths include our ability to think outside the square and, when warranted, a willingness to challenge accepted thought paths to achieve better outcomes.

Key strengths include:
Thought leaders in exploration, with record of discovery success.
Corporate acumen with deep strategic focus.
Innovation embedded in our activities.
Outcome driven, pragmatic response to problem solving.
Strong regional knowledge, understanding and contacts.
Small corporate footprint with most expenditure directed to field activities.
Aligned goals – our staff are also shareholders.
A focus on stakeholder relationships.
Experienced in mine planning and development.
Pragmatic approach to cost control.

OUR BEHAVIOUR

Is motivated by the ethical advancement of the business. We embrace equal opportunity; respect stakeholder rights to exercise their different forms of freedom; and embed honour, integrity and honesty in our actions. We believe in redressing the disparity between Indigenous and non-Indigenous Australians. We strive to be the best versions of ourselves.