World-significant Australian cobalt and nickel for the battery industry

Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) provides the Company's latest presentation at Sprott Natural Resource Symposium, Vancouver, July 2018.

The Ardea Proposition

- The 100% owned Goongarrie Nickel-Cobalt Project is part of the largest Cobalt Resource in the Developed World - 773Mt at 0.7% Ni and 0.05% Co

- Robust Pre-Feasibility Study which included the following highlights:

o Pre-tax NPV US$1.4 billion

o Pre-tax IRR 29%

o Initial focus will be on 40Mt at 0.83% Ni and 0.09% Co reserves

o Significant expansion potential on 1.0 Mtpa base case

o Higher throughput options being investigated.

- Goongarrie is a low technical risk project

- Goongarrie offers an ethical, low environmental impact, multi-generation mine-life

- Significant economic advantages and cost benefits via on-site neutraliser, scandium and other by-product opportunities

- Continued discussions with a number of potential strategic and offtake partners

- Upside potential from WA and NSW gold and base metal projects

A High-Quality Cobalt and Nickel Sulphate Producer

Outstanding results delivered from recently completed Pre-Feasibility Study*

- 1.0 Mtpa base case over a 25-year mine life

- 95.5% cobalt and 94.5% nickel recovery - life of mine

- Pre-cobalt C1 costs in line with current worldwide operators

- PAL** 5th generation plant, proven design, successfully operated in other laterite projects globally

Expansion Upside Potential

- Scoping study on 2.25 Mtpa via single processing train is nearing completion

- > 8,000 tpa cobalt sulphate expected

- > 70,000 tpa nickel sulphate expected

- Goongarrie exhibits significant potential for expansion via multiple parallel modular trains

- Additional upside options are currently being assessed and include the following:

o Higher throughput / shorter autoclave residence time

o Mineralised neutraliser optimisation

o Scandium by-product optimisation

Scalability potential remains a major competitive advantage (only ~5% of current resources have been utilised)

* Goongarrie Nickel Cobalt Project, PFS study, 28 March 2018

** PAL = Pressure Acid Leach

To view the full presentation, please visit:

About Ardea Resources Ltd

Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) (FRA:A91) is an ASX listed resources company, with 100% controlled Australian based projects, prioritising a three-pronged value creation strategy which is:

- development of the Goongarrie Nickel Cobalt Project, which is part of the Kalgoorlie Nickel Project, a globally significant series of nickel-cobalt deposits which host the largest nickel-cobalt resource in the developed world, coincidentally located as a cover sequence overlying fertile orogenic gold targets;

- advanced-stage exploration at WA gold and nickel sulphide targets within the Eastern Goldfields world-class nickel-gold province; and

- the demerger of the NSW gold and base metal assets with planned in-specie share distribution, with projects located within the Lachlan Fold Belt world-class gold-copper province.



Ardea Resources Ltd
Brett Clark, CEO / Managing Director
T: +61-8-6244-5136

Link: Ardea Presentation Sprott Conference Vancouver July 2018

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Ardea Resources Ltd

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Metals Materials General Mining Nickel Cobalt