Stanmore Resources : INVESTOR PRESENTATION

Important Information

This presentation should be read in conjunction with the announcement "Stanmore Resources to Acquire BHP's 80% interest in BMC" released on 8 November 2021, which is available on Stanmore Resources onlyLimited's ("Stanmore", "Company") website: https://stanmore.net.au/. This presentation has been prepared by Stanmore for the purpose of providing a company and technical overview to interested

analysts/investors. Pursuant to Listing Rule 15.5 this presentation has been authorised by the board of directors of Stanmore. None of Stanmore, nor any of its related bodies corporate, their respective directors, partners, employees or advisers or any other person ("Relevant Parties") makes any representations or warranty to, or takes responsibility for, the accuracy, reliability or completeness of the information

co tained in this document, to the recipient of this document ("Recipient"), and nothing contained in it is, or may be relied upon as, a promise or representation, whether as to the past or future.

The information in this document does not purport to be complete nor does it contain all the information that would be required in a disclosure statement or prospectus prepared in accordance with the Corporations Act 2001 (Commonwealth). It should be read in conjunction with Stanmore's other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

This document is not a recommendation to acquire Stanmore shares and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek appropriate advice, including financial, legal and taxation advice appropriate to their jurisdiction. Except to the extent prohibited by law, the Relevant Parties disclaim all liability that may otherwise arise due to any of this information being inaccurate or incomplete. By obtaining this document, the Recipient releases the Relevant Parties from liability to the Recipient for any loss or damage that it may suffer or incur arising directly or indirectly out of or in connection with any use of or reliance on any of this information, whether such liability arises in contract, tort (including negligence) or otherwise.

useAlthough due care and attention has been used in the preparation of forward looking statements, such statements, opinions and estimates are based on assumptions and contingencies that are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward looking statements including projections, guidance on f ture earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. Other than where required by law, Stanmore does not undertake to publicly update or review any forward-looking statements whether as a result of new information or future events.

This document contains certain "forward-looking statements". The words "forecast", "estimate", "like", "anticipate", "project", "opinion", "should", "could", "may", "target" and other similar expressions are intended to identify forward looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. You are cautioned not to place undue reliance on forward looking statements.

personalRecipients of the document must make their own independent investigations, consideration and evaluation. By accepting this document, the Recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the company it will make and rely solely upon its own investigations and inquiries and will not in any way rely upon this document.

This document is not and should not be considered to form any offer or an invitation to acquire Stanmore shares or any other financial products, and neither this document nor any of its contents will form the basis of any contract or commitment. In particular, this document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any "US person" as defined in Regulation S under the US Securities Act of 1993 ("Securities Act"). Stanmore shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration.

JORC Code

It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Re ources and Ore Reserves ("JORC Code"). Investors outside Australia should note that while ore reserve and mineral resource estimates of the Company in this document comply with the JORC Code (such JORC Code compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and in particular do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators ("Canadian NI 43-101 Standards"); or SEC Industry Guide 7, which governs disclosures of mineral reserves in registration statements filed with the US Securities and Exchange Commission (the "SEC"). You should not assume that quantities reported as "resources" will be converted to r s rves under the JORC Code or any other reporting regime or that Stanmore will be able to legally and economically extract them.

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Ore reserves and mineral resources reporting

onlyThis presentation contains estimates of Stanmore's ore reserves and mineral resources, as well as statements about BMC's mineral resources and ore reserves. The information in this presentation that relates to the ore reserves and mineral resources of Stanmore has been extracted from the ASX release by Stanmore titled "December 2020 Coal Resources and Reserves Summary" dated 26 February 2021, published as

part of the Annual results and financial statements on 26 February 2021 and the release titled "Millennium and Mavis Downs Mine Acquisition" dated 15 April 2021. The information that relates to BMC has been extracted from the ASX release by BHP Minerals Pty Ltd ("BHP") titled "BHP Annual Report 2021" dated 14 September 2021 and the Table 1 information provided by BHP and attached to the ASX Announcement by Stanmore on 4 November 2021 "Stanmore resources to Acquire BHP's 80% interest in BMC". Copies of these announcements are available at www.asx.com.au. Stanmore confirms that it is not aware of any

ew information or data that materially affects the information included in those announcements and, in relation to the estimates of Stanmore's and BMC's ore reserves and mineral resources, that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. Stanmore confirms that the form and context in which the C mpetent Person's findings are presented have not been materially modified from the relevant announcement. Stanmore and its advisors will continue to work on providing an independent assessment of Mineral Resources and Ore reserves as normally required under listing rules in Singapore and Indonesia.

For more detail about the mineral resources and mineral reserves estimates for BMC included in this presentation, including as to their reliability and other information required to be included pursuant to the useASX Listing Rules, please refer to the accompanying announcement released to ASX with this presentation.

Competent Persons Statement

The BHP presented Table 1 for JORC Resources and Reserves for South Walker Creek and Poitrel have been signed off by Palaris Competent Persons on the basis that the data presented appears reasonable following an independent review of the life of mine plans presented by BHP during the 2021 BMC sales process. In parallel to this process, Palaris has been engaged by Stanmore Resource's parent company GEAR to prepare independent JORC Resource and Reserve statements for South Walker Creek and Poitrel based on options presented by Stanmore for operating the assets. In the event that these plans are adopted, it is likely that the presented JORC Resource metrics will be largely unchanged to that presented by BHP and a possibility that the JORC Reserve metrics are different to that presented by BMC. The Palaris independent compilation of the JORC reports for GEAR are in progress at the time of writing this statement.

This Resource estimate is based on information reviewed by Dr William Bamberry, who is a Member of the Australasian Institute of Geoscientists (#4090). Dr Bamberry is Principal Geologist at Palaris. He has personalsufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the

Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Bamberry has more than 30 years' experience in exploration and mining of coal deposits. Dr Bamberry consents to the inclusion of this Resource Estimate in reports disclosed by the Company in the form in which it appears.

The Reserve estimate is based on information reviewed by Mr John Pala, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) (112634). Mr Pala is Managing Director of Palaris. He has sufficient experience relevant for the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Pala has over 35 years' experience in the estimation, assessment, evaluation, and economic extraction of Coal Reserves. Mr Pala consents to the inclusion of this Reserve Estimate in reports disclosed by the Company in the form in which it appears.

Neither Dr Bamberry, Mr Pala nor Palaris have a direct or indirect financial interest in, or association with Golden Energy and Resources Ltd, or the properties and tenements reviewed in this report, apart from standard contractual arrangements for independent consulting work.

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