AGM Presentation – 4 November 2015 ASX: PNX

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This presentation is an overview of the Company prepared with good intention. It is not a prospectus and offers no securities for subscription or sale in any jurisdiction, nor a securities recommendation.

All information necessary for investment decisions is not contained herein and investors are encouraged to conduct their own research of Phoenix Copper Limited in conjunction with legal, tax, business and financial consultation.

Phoenix Copper Limited, its directors, officers, employees and agents disclaim liability for any loss or damage suffered by reliance on information contained in this report when making investment decisions. In addition, no express or implied representation or warranty is given in relation to the completeness and sufficiency of the information, opinions or beliefs contained in this document or any other written or oral information made or to be made available to any interested party or its advisors.

This presentation may refer to the intention of Phoenix Copper Limited but it does in no way intend to forecast forward looking statements or future matters for the purposes of the Corporations Act or any other law. Future events are subject to risks and uncertainties, and as such results, performance and achievements may in fact differ from those referred to in this presentation.

No liability is accepted for any loss, cost or damage suffered or incurred by the reliance on the sufficiency or completeness of the information, opinions or beliefs contained in this presentation.

Research, evaluation and analysis of the business, data and property are encouraged before making financial investments. Any estimates, projections or opinions contained herein may involve subjective judgement, analysis and interpretation, and satisfaction of one’s own decisions should be undertaken.

This report contains forward-looking statements. These forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward looking statements.

The information in this report that relates to Exploration Targets and Exploration Result is based on information compiled by Mr Andrew Bennett a Competent Person who is a Member of the Australian Institute of Mining And Metallurgy and a full-time employee of Phoenix Copper Limited. Mr Bennett has sufficient experience relevant to the style of mineralisation and the type of deposits under consideration and to the activity being undertaken 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 Bennett consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Disclaimer & Important Notice F

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Phoenix Copper - PNX Metals

PNX aims to be a sustainable, profitable gold and base metals producer and successful explorer in the Pine Creek region of the Northern Territory

www.phoenixcopper.com.au

Iron Blow pit 2015 Mt Bonnie pit 2015

Hayes Creek Development Project Zinc-Gold-Silver

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Hayes Creek development Zinc-Gold-Silver Scoping study early 2016 to demonstrate economic potential Hayes Creek project development

― Iron Blow + Mt Bonnie, high-grade, near-surface, Zn-Au-Ag massive sulphide deposits on granted MLs. 100% owned and close to infrastructure inc. Newmarket’s Union Reef Mill

Burnside, Moline, Chessman exploration projects ― Earning-in to 90% over 1,700km² highly prospective exploration tenure*, multiple untested gold

& base metals targets

Leigh Creek

Project Burra Project Yorke Peninsula

Project

Hayes Creek, Burnside,

Moline and Chessman

Projects

*Refer ‘Additional Information’ pg17

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Achievements – previous 12 months New resource estimated at Iron Blow (JORC 2012),

drilling included: ― 50.39m @ 10.12% Zn, 2.66 g/t Au, 283 g/t Ag,

0.57% Cu, 1.39% Pb from 155.72m in IBDH023

Ground and downhole electromagnetic surveys RC and diamond drilling at Mt Bonnie

― 8m @ 12.61% Zn, 2.41g/t Au, 328g/t Ag, 0.48% Cu, and 2.76% Pb from 89m in MBRC014

7,500 samples analysed including diamond & RC, field portable XRF, lab soils and rock chips

2,000m of diamond and 1,800m of RC drilling Metallurgical sighter flotation, optical mineralogy

and QEMSCAN analysis Successful capital raisings supported by major

shareholder groups Building an experienced, motivated and successful

team IBDH023 high-grade massive sulphides

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Corporate Overview Capital Structure

Current Share Price 1 A₵ 1.5cps

Shares on Issue # 427.8m

Market Capitalisation A$ $6.4m

Cash (as completion of Cap Raise) A$ $1.4m

Listed Investment 2 A$ $0.3m

Loan/Convertible Notes 3 A$ $1.8m

Enterprise Value A$ $6.5m

1. As at 3 November 2015

2. 12.9m shares (5.4% of the undiluted capital) in Avalon Minerals Limited (ASX:AVI). Last traded at 2.6c per share

3. Unsecured loan of $1.2m for the acquisition of the AVI shareholding, which is to be settled in cash from the sale of AVI shares with PNX shares to be issued to make up any shortfall. 12 months remaining on loan term. Also $0.6m of convertible notes on issue which are convertible to PNX equity at $0.05 per share at the election of PNX at any time.

Share Price & Volume

Share Ownership

HSBC Custody Nominees 12.9% Asia Image Limited 10.2% Talis SA 8.9% Cartet Group Limited 7.2% Sochrastem SA 6.9% Directors & Management 5.0% Top 20 holding 76.7%

Board & Management Graham Ascough Non Executive Chairman

James Fox Managing Director & CEO

Paul Dowd Non Executive Director

David Hillier Non Executive Director

Peter Watson Non Executive Director

Tim Moran Co Sec & CFO

Andy Bennett Exploration Manager

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Objectives – next 12 months Continue Hayes Creek project development Analysis of Mt Bonnie drill core - initial JORC

resource estimate by Q4 2015 Complete metallurgical optimisation to

produce high value, saleable, zinc, gold and silver products by Nov 2015

Scoping Study early 2016 - demonstrate project viability

Compile information + rank targets from Burnside regional exploration campaign

Aim to drill test highest priority exploration targets next dry season

Consider available options to commercialise project

Discover – Define – Develop

Iron Blow

Mt Bonnie

50.39m @ 10.12% Zn, 2.66 g/t Au, 283 g/t Ag, 0.57% Cu, 1.39% Pb from 155.72m in IBDH023

8m @ 12.3% Zn, 2.41g/t Au, 321g/t Ag, 0.5% Cu, and 2.5% Pb from 89m in MBRC014

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Iron Blow Resource – High value asset

Zinc rich massive sulphides with considerable gold and silver mineralisation

Resource is amenable to open pit mining methods

Existing resource upside: ― Additional gold-rich zones identified outside

boundaries of existing resource ― Limited deeper drilling, open ― 100% owned, granted MLs, no environmental

liability, close to infrastructure

Depth AuEq

cut-off (g/t)

Tonnes AuEq (g/t) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) ZnEq %

> -90 mRL 0.7 2.2Mt 6.7 2.4 140 0.3 1.0 4.9 11.8

< -90 mRL 3.0 0.4Mt 5.6 2.7 71 0.4 0.4 4.1 10.0

Total Inferred Mineral Resource 2.6Mt 6.5 2.4 130 0.3 0.9 4.8 11.5

Total Contained Metal 543,000 oz

203,000 oz

10,700,000 oz 7,000 t 23,000 t 125,000 t 300,000 t

See ASX release 3 November 2014 for details, ‘High Grade Mineral Resource Estimate for Iron Blow Deposit’, where further details are provided. All material assumptions and technical parameters underpinning the resource estimate announced on 3 November 2014 continue to apply and have not materially changed. Results of drilling by Phoenix Copper since October 2014 have not been included in the resource estimate but if they were, they would not likely have a material change on the October 2014 resource estimate.

Iron Blow pit 2015

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Iron Blow – Potential to grow

Gold zone not currently included in resource estimate F

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Iron Blow – Diagnostic metallurgical tests Bulk & differential rougher flotation tests

completed using standard non-optimised chemical regime

Zinc sulphides well liberated with excellent recoveries (>80% recovery at >35% grades)

Excellent early stage results for silver & gold Silver concentrate grades up to 400ppm

and recoveries of up to 75% Gold concentrate grades over 7g/t using

non-specific collectors with up to 65% recovery

>77% of the mass rejected to tails including a substantial amount of deleterious elements

Optimisation test work underway to maximise recoveries and grades

Development of flow sheet for economic recovery of zinc, gold and silver

Diagnostic flotation test work on Iron Blow composite mineral sample

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Mt Bonnie – Resource estimation

Past producer oxide gold & silver No comprehensive historic exploration Recently completed RC and diamond

drill program Oct 2015 (awaiting assays) Near-surface sulphide mineralisation Very high-grade Zn-Au-Ag homogeneous

massive sulphide lens Open at depth and to the South Similar geophysical signature,

mineralogy & potential to Iron Blow Less than 3km from Iron Blow

Mount Bonnie historical open pit looking to the North-west

May drilling results (previously reported): 8m @ 12.61% Zn, 2.41g/t Au, 328g/t Ag, 0.48% Cu, and 2.76% Pb from 89m in MBRC014 12m @ 8.37% Zn, 2.57g/t Au, 228g/t Ag, 0.67% Cu, and 1.97% Pb from 48m in MBRC015 14m @ 6.55% Zn, 0.87g/t Au, 245g/t Ag, 0.43% Cu, and 1.84% Pb from 57m in MBRC024

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Regional Exploration – Untested potential Burnside, Moline & Chessman projects Known VMS deposits at Iron Blow & Mt

Bonnie Defined by discrete, coincident magnetic

and EM responses + surface geochemistry Multiple high-grade rock chips from

surface gossan & outcrop to follow up Large amount of historical exploration

data inherited from Crocodile Gold with numerous untested targets

Test priority targets with gold and base metal potential

Strong potential for discovery of economic mineral resources

Copper oxides at Mt Ellison (Burnside Project)

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Burnside Exploration – Maze prospect

Less than 1km to the east of Mt Bonnie

Significant areas of coincident As and Au anomalism

Associated with same structural setting as Cosmo >10Mt deposit (anticline at dolerite-Koolpin contact)

2km mineralised corridor with minor workings

Ongoing exploration to define further areas for targeting

Maze prospects structural corridor on RTP magnetic image

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Burnside Exploration – Thunderball North Located 3.5km to the west of the

Hayes Creek project Two discrete anomalous zones with

high gold in soils (T1 and T2) ― T1 – Mineralisation associated with

zone of intense veining, 500m strike length within anticlinal fold hinge

― Soils analysis up to 2.5g/t Au & up to 6.7g/t in rock chips in close proximity to TPCRC066 - 12m @ 4.7 g/t Au

― T2 – Target >350m in length, values up to 9g/t Au in rock chips

Location and evidence of gold mineralisation in soils analysis, rock chips and drill core makes this a compelling target

Aim to drill test targets in 2016

T2 target

T1 target

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Summary

Aim to define sufficient resources during 2015 at the Hayes Creek project to underpin a profitable mining operation ― Iron Blow resource, high-grade Zn-Au-Ag, potential open pit ― Mt Bonnie deposit, near-surface, high-grade Zn-Au-Ag, resource by Dec 2015 ― 100% owned, granted MLs, close to infrastructure ― Strong exploration potential at Hayes Creek beyond these deposits

Completion of Scoping Study to demonstrate project viability by early 2016 ― Diagnostic test work complete, excellent zinc recovery & grade ― Metallurgical optimisation test work complete end Nov 15 - demonstrate economic

recovery of high-value, saleable, zinc gold and silver products

Regional exploration – untested potential ― Multiple gold and base metals targets at Burnside, Moline & Chessman projects ― Aim to discover new gold or base metal deposit in 2016

Discover – Define – Develop

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Iron Blow - One of the best undeveloped Zinc deposits in Australia?

Bubble size = contained zinc tonnes

Red = Producer Green = Developer Blue = Explorer

Source: Hartleys Research

Hayes Creek Iron Blow only

ASX-listed Zinc stocks

Hayes Creek with Mt Bonnie?

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Additional Information

Transaction with Crocodile Gold Australia (now Newmarket Gold NT Holdings Pty Ltd), a subsidiary of Canadian Listed Crocodile Gold Corp (now Newmarket Gold Inc, TSX:NMI) announced August 2014

Acquired Tenements (100%) – Hayes Creek Project ― 14 Mining Leases (containing Iron Blow and Mt Bonnie deposits) for a 2% royalty over

gold and silver in concentrate ― CGA can clawback 30% within 6 months of PFS by paying 3x expenditure

Earn-in Tenements (up to 90%) – Burnside, Moline and Chessman Projects ― 21 exploration licences (now 20) and 4 mining leases covering 1,700km2

― PNX to earn 51% by spending $2M over 2 years (excluding Uranium), which can include up to $0.5M spent on the Acquired Tenements

― PNX to earn up to 90% by spending a further $2M within a further 2 years (excluding Uranium), which can include up to a further $0.5M spent on the Acquired Tenements

― CGA can acquire 90% of any 2012 JORC compliant gold and silver deposit within 6 months of resource being announced by paying 3x expenditure

― Further $0.5m (in cash or shares) payable to CGA upon completion of a DFS on any NT base metals project

Acquisition of highly prospective base metal projects on granted mining licences, with proven massive sulphide mineralisation, and exceptional further exploration potential

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