This presentation has been prepared by Ardea Resources Limited (Company). It contains general background information only which is current at the date of this presentation unless otherwise specified. It contains selected summary information and does not purport to be all-inclusive, comprehensive or to contain all of the information that may be relevant, or which a prospective investor may require in evaluations for a possible investment in the Company or Kalgoorlie Gold Mining Limited (KalGold). Prospective investors should not rely on the information contained in this presentation, and must satisfy themselves as to the accuracy of all such information. This presentation has been prepared based on information available at the time of preparation and is subject to change without notice. In receiving this presentation, each recipient agrees to the foregoing terms and conditions, including any modifications to them. No person is under any obligation to update this presentation at any time after its release.

This presentation is provided for general information purposes only. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company or KalGold in any jurisdiction. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission (ASIC). It should not be relied upon by the recipient in considering the merits of the Company or KalGold, or the acquisition of shares in the Company or KalGold. The Kalgoorlie Gold Mining Limited Prospectus dated 17 September 2021 is available on www.kalgoldmining.com.au (KalGold Prospectus). The offer of shares in KalGold is made in the KalGold Prospectus. A person should consider the KalGold Prospectus in deciding whether to acquire shares in KalGold. Anyone who wants to acquire shares in KalGold will need to complete the application form that is in or that accompanies the KalGold Prospectus. None of Ardea, its subsidiaries or its representatives are providing or offering investment advice or services by making this presentation.

None of Ardea, its subsidiaries nor its representatives make any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the information contained herein or any other written or oral communication transmitted or made available to any person receiving this presentation.  To the maximum extent permitted by law, Ardea, its subsidiaries and representatives expressly disclaim any and all liability based on or arising from, in whole or in part, such information, or any errors or omissions.

This presentation contains forward-looking statements regarding the Company’s resources, intentions and future business, including the future business of its subsidiaries.  These statements reflect current information, expectations, intentions and strategies regarding the future, and are subject to certain risks and uncertainties.  Should one or more of these risks or uncertainties materialise, or should any of the underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this presentation.  Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.  Other than where required by law, the Company is under no obligation to revise any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

Though reasonable care has been taken to ensure that the facts are accurate and/or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and developments of projects and the market development may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

All assays, intercepts, and images of gold are published by Ardea Resources Limited in their announcement dated 24 August 2021. See Table 1 for full details. As at the date of this presentation, Kalgoorlie Gold Mining Limited is a wholly owned subsidiary of Ardea.

Competent Person Statement

The Information in this Presentation that relates to Exploration Targets or Exploration Results is extracted from the KalGold Prospectus (available at www.kalgoldmining.com.au) and from the Company’s announcement on 24 August 2021 re the spin-out of its Kalgoorlie-based gold assets.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates or production targets or forecast financial information derived from a production target (as applicable) in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.