Announcement PDF Vidalita: Finding an elephant in elephant country October 2018 A well planned, measured, determined approach to exploration success Discovery Vidalita: a new Au-Ag epithermal Drill Testing: First area drilled returns grade Targeted Geochem: Soil surveys confirm gold & silver zones Recon Geology: Areas of pervasive alteration and high grade surface rock chips Area Selection: Virgin area in the Maricunga Belt identified Logical, considered progression reducing risk 2 Location: Maricunga Gold Camp of Giants Salares Norte 3.7Moz Au, 50Moz Ag Cerro Maricunga 6Moz Au, 4Moz Ag Caspiche 23Moz Au, 54Moz Ag Cerro Casales 23Moz Au, 59Moz Ag Alturas 7Moz Au Vidalita Modified from Goldfields presentation, AME Roundup, Vancouver 2017 https://www.juniorminingnetwork.com/junior-miner-news/press-releases/530-tsx/g/30671-goldcorp-and-barrickgold-to-consolidate-cerro-casale-and-caspiche-gold-projects-in-50-50-joint-venture.html Right address, right target the right location, the right geology 3 A Tier 1 epithermal system revealed Alteration hot spots were the tell tale Emu was seeking Arroyo Ancho Orange/gold hotspots targeted Large areas under cover Jotahues Peon 2 Vidalota Peon 4 Vidalita Pervasive alteration: a large footprint = large system 44 Recce rock chips are spectacular Surface rocks, both float and in situ, returned very high gold and silver values Mineralisation is widespread and pervasive 0.20 g/t Au + 21.2 g/t Ag 4.28 g/t Au + 66.3 g/t Ag 8.98 g/t Au +159 g/t Ag 1.57 g/t Au + 35.7 g/t Ag 5.54 g/t Au + 89.7 g/t Ag 14.5 g/t Au + 177 g/t Ag 3.08 g/t Au + 50.2 g/t Ag 5.24 g/t Au + 14.4 g/t Ag 5.71 g/t Au + 17.8 g/t Ag 32.9 g/t Au + 25.3 g/t Ag You can’t hide a large mineralised system! 55 Follow-up Soil Survey Confirms Targets Gold Silver Extensive, consistent gold and silver anomalism at Vidalita > 4km x 2km in area With epithermal system pathfinder elements The highest gold and silver in soils that Emu has seen 6 2018 Drilling campaign prods the giant Emu has undertaken first ever exploration drilling in this pristine area 28 Aircore holes for 4,203m, 7 RC holes for 813m, and 5 diamond holes for 950m completed Campaign targeted three high surface gold and silver geochemistry zones at the Vidalita Prospect Shallow drilling to test geochemistry, deep drilling to test geology 7 Discovery: Emu gets what it came for Results are outstanding: • Long intercepts of gold and silver mineralisation • a highly mineralised system has been found: 162m @ 0.13g/t Au • Gold grades to 8.4g/t, silver grades to 1,049g/t, copper grades to 5.4% • High lead and zinc geochemistry • Brecciated diatreme with vuggy silica, all mineralised, confirm the sought after epithermal model Consistently pervasive gold and silver mineralisation 88 Discovery: Mineralisation is pervasive An area exceeding 1,400m in length and 300m in width, open in all directions, has now been shown to be mineralised Edges of system not yet tested 99 Vidalita: building on initial discovery 1.4 km 2017-18 drilling campaign outlined a shallow mineralised zone High grade silver mineralisation was intersected deeper: Interval m Silver grade g/t From m Hole 8 1 1 2 4 33 58 1,049 177 148 40 166 216 253 52 4900-1 5300-2 5700-1 5700-1 6500-2 Within broader Silver grade interval m g/t 28 8 6 6 16 23 15 211 93 88 From m 36 163 215 251 44 28 holes are proposed to test for a shallow maiden resource and follow up the deeper mineralisation 2017-18 drill hole collars shown in black. Proposed holes shown in red. Outline shows extent of mineralised zone. Towards defining a shallow resource 10 Emu is in a large gold-silver system Vidalita? Emu has identified a large goldsilver deposit in a high sulphidation epithermal (‘HSE’) system: • Distinct alteration patterns, frequently with low grade mineralised vuggy silica • Limited outcrop • Gold and silver rich • Strong base metals association Source: Goldfields 2017 Vancouver Roundup Classic high sulphidation system interpreted from drilling 11 11 Strong land position • Building our land position on the back of inspiring results • 136km2 held • Areas held 100% and under option • Emu surrounded by majors Large landholding surrounded by majors 12 12 Evidence & encouragement to proceed Large, intact, gold-silver High Suphidation Epithermal system interpreted: • ALTERATION large alteration zones of the right type across the tenements • ROCK GEOCHEMISTRY high grade gold and silver values within the alteration zones • SOIL GEOCHEMISTRY extensive soil geochemical anomalies characteristic of HSE systems • GEOLOGY right geology, alteration and geochemistry • GEOPHYSICS an extensive geophysical anomaly coincident with the geochemistry results • DRILLING Large zones of precious and base metal intersected in HSE rocks The right rocks, highly mineralised, large size potential ✔ Emu has the beast by the tail – now need to reel it in 13 13 The journey so far…… Results show Emu is well and truly in the hunt for an economic goldsilver deposit in a well endowed mineralised belt Potentially, a transformative, company-making exploration outcome Exploration results have delivered the mineralisation style sought: a precious metal high sulphidation epithermal system AND Only one target drill tested so far, and that was successful Multiple targets waiting to be drilled in 2019 A great start with many opportunities waiting to be tested 14 Land holding holds elephants? Emu’s concession package is large 3.7Moz Au 23Moz Au The largest of the Maricunga Belt’s resources* can be accommodated many times over 7Moz Au Surface geochem surveys have outlined areas very much larger than neighbouring resource footprints * Outlines digitised from published maps. NOT shown in their correct geographical locations. For illustrative purposes only. Maximising opportunities for exploration success 15 15 Targets for the 2018-19 campaign Arroyo Ancho: pervasive large scale alteration around an andesite cap. High precious metal assays Jotahues: massive sulphide outcrop, precious metal anomalism, intense alteration Peon 4: Strong coherent Au-Ag belt, HSE pathfinder elements Vidalita C: high precious metal assays in covered area, not yet resolved Vidalota D: Au-Ag anomalies Vidalita: strong drilling results; space for an orebody Vidalota: High alteration, high precious metal assays Only one of seven compelling areas drilled so far, and that was successful 16 Peon 4: gold-rich geochemistry Peon 4 soil geochemistry outlines a zone anomalous in gold, silver, base metals, and epithermal pathfinder elements The zone is 600 x 1200m and open along strike Highlighted in Aster alteration image Untested target to be assessed with two lines of drill holes Peon 4 Gold assays to 18.2ppb Proposed holes in black diamonds Could Peon 4 be the gold-rich phase of the Vidalita prospect? 17 Aircore drilling technology applied in high Andes Emu has introduced deep aircore drilling technology to the high Andes • Cost is about 1/5th of Chilean RC drilling costs • Production is about 3 times higher • Sample is superior to RC and almost as good as DDH • Sample is superior to RC and akin to DDH core Clear path to exploration success 18 Next milestones: 2018-19 campaign Follow-up of Vidalita drilling to find the high grade part of the system • • 30 AC and 7 DDH holes to follow mineralisation and test for a resource SEM work on mineralogy to better understand controls and metallurgy Test equally compelling targets at: • • • • Peon 4: AC drilling - 15 holes planned Vitalota D: AC drilling - 10 holes planned Jotahues: AC drilling - 9 holes planned Arroyo Ancho: reconnaissance drilling planned Work up targets at Vidalita C and Vidalota with possible drill testing In excess of 12,000m drilling planned with Additional contingent metres Clear path to exploration success 19 News flow: Currently planned time line: All assays in Exploration crew mobilises 2018 Oct Nov Dec Final results announced First assays 2019 Feb Mar Apr May Jun 2019 Sampling AC drilling DDH drilling Results assessment Solid 7 months’ workflow with regular updates to market 20 Key message Emu is pursuing economic gold-silver in a highly prospective mineralised belt Potentially a transformative, company-making exploration outcome Exploration results have delivered the mineralisation style sought: precious metal high sulphidation epithermal system Next step: identify the economic portion of the system Only one of seven identified targets tested so far Emu gets things done 2121 A Proven Management Team Peter Thomas (Chairman) legal background with natural resources-focussed legal practice for over 30 years. Founding non-executive chairman Sandfire Resources. Non-executive director for several other listed resource companies Greg Steemson (NED) qualified geologist and geophysicist with 40 years international experience across gold and other commodities managing exploration and project development through to mining with CRA Exploration (now Rio), Chevron, a founding partner Southern Geoscience Consultants, Metana Minerals and Mineral Commodities. Founding director of Sandfire Resources & Allied Gold Gavin Rutherford (NED) experience in agribusiness and over 20 years in mining contracting services Board with depth and experience 22 Backed by an effective field team Cisco Montes is Emu’s Spanish speaking, Australian trained geologist We take on some of the best graduates from Latin American universities to help with the field work Augmented by worldrenown epithermal geological consultants Committed field team hungry for discovery 23 Small issued share capital ASX:EMU Ordinary fully paid shares 91M Including 4M which can be bought back for nil consideration ASX:EMUCA Contributing shares 33.67M Paid to 3c, 3c to pay; no call before 31/12/18 4.75M options exercise price 10c (20/12/18) 0.3M options exercise price 25c (20/12/18) Tightly held stock Creating value from exploration for investors Market Cap $4M Cash $0.2M 24 Legal Disclaimer Forward-Looking Statements • This presentation has been prepared by EMU NL. This document contains background information about EMU NL current at the date of this presentation. The presentation is in summary form and does not purport be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. • This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. • This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. • This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. • To the fullest extent permitted by law, EMU NL, its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. • This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of EMU NL. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, EMU NL does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. Competent Person’s Statement – Exploration Results The information in this report that relates to Exploration Results is based on information compiled by Mr Marcus Flis who is a Fellow of The Australasian Institute of Mining and Metallurgy. Mr Flis is the General Manager of EMU NL and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. MrFlis consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Creating value from exploration for investors 25 25 Emu: a compelling investment Thank you ASX: EMU info@emunl.com.au www.emunl.com.au 08 92264266 Creating value from exploration for investors 26 26