Sunrise Resources : Company Presentation - June 2024

Company Presentation

June 2024

Directors

Patrick Cheetham	A geologist with over 40 years in exploration management and 35
Executive Chairman	years as executive director of publicly traded companies. Currently
	Executive Chairman Tertiary Minerals plc.
James Cole	Chartered Accountant. Director of Goal Group, Formerly CFO for
Non-Executive Director	Cominco Resources Ltd, AIM/TSX traded European Minerals
	Corporation plc and TSX/OSE traded Crew Gold Corporation.
Roger Murphy	Formerly CEO Power Metal Resources plc and MD Investment
Non-Executive Director	Banking, Dundee Securities Europe Ltd. Worked as a geologist for
	various companies, including Anglovaal Mining and British
	Petroleum.
Rod Venables	A qualified solicitor with extensive experience in corporate finance
Company Secretary	and broking with Greig Middleton, Old Mutual Securities, Allenby
	Capital and Northland Capital Partners Limited.

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Important Notice

The content of information contained in these slides and the accompanying verbal presentation (together, the "Presentation") has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). Reliance upon this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. If any person is in any doubt as to the contents of this Presentation, they should seek independent advice from a person who is authorised for the purposes of FSMA and who specialises in advising in investments of this kind.

This Presentation is being supplied to you solely for your information. This Presentation has been prepared by, and is the sole responsibility of, Sunrise Resources plc (the "Company"). The directors of the Company have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge, information and belief.

This Presentation does not constitute, or form part of, an admission document, listing particulars or a prospectus relating to the Company, nor does it constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company nor shall it or any part of it, or the fact of its distribution, form the basis of, or be relied upon in connection with, or act as any inducement to enter into any contract therefor.

The information in this Presentation is provided as at the date of this presentation and as such is preliminary in nature, has not been fully verified by the Company and is subject to material amendment, updating and change. The Company undertake no obligation to provide the recipient with access to any additional information or to update this Presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document sets out certain features of the Company and does not purport to provide a complete description of the Company or the shares in the Company.

No reliance may be placed for any purpose whatsoever on the information contained in this Presentation or on its completeness, accuracy or fairness thereof, nor is any responsibility accepted for any errors, misstatements in, or omission from, this Presentation or any direct or consequential loss however arising from any use of, or reliance on, this Presentation or otherwise in connection with it.

By accepting this Presentation you confirm, represent and warrant that you have consented to receive information in respect of securities of the Company and other price-affected securities (as defined in the Criminal Justice Act 1993 ("CJA")) which makes you an "insider" for the purposes of Part V of the CJA, and you agree not to deal in any securities of the Company until such time as the inside information (as defined in the CJA) of which you have been made aware has been made public for the purposes of the CJA.

This Presentation may not be reproduced or redistributed, in whole or in part, to any other person, or published, in whole or in part, for any purpose without the prior consent of the Company. The contents of this Presentation are confidential and are subject to updating, completion, revision, further verification and amendment without notice.

The Presentation is being distributed on request only to, and is directed at, authorised persons or exempt persons within the meaning of FSMA or any order made thereunder or to those persons falling within the following articles of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Financial Promotion Order"): Investment Professionals (as defined in Article 19(5)), members and creditors of certain bodies corporate (as defined in Article 43 (2)) High Net Worth Companies (as defined in Article 49(2)). Persons who do not fall within any of these definitions should not rely on this Presentation nor take any action upon it but should return it immediately to the Company. This Presentation is exempt from the general restriction in section 21 of FSMA relating to the communication of invitations or inducements to engage in investment activity on the grounds that it is made only to certain categories of persons.

Neither this Presentation nor any copy of it should be distributed, directly or indirectly, by any means (including electronic transmission) to any persons with addresses in the United States of America (or any of its territories or possessions) (together, the "US"), Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland, or to any corporation, partnership or other entity created or organised under the laws thereof, or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement. The recipients should inform themselves about and observe any such requirements or relationship.

The Company's ordinary shares have not been, and are not expected to be, registered under the United States Securities Act 1933, as amended, (the "US Securities Act") or under the securities laws of any other jurisdiction, and are not being offered or sold, directly or indirectly, within or into the US, Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland or to, or for the account or benefit of, any US persons or any national, citizen or resident of the US, Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland, unless such offer or sale would qualify for an exemption from registration under the US Securities Act and/or any other applicable securities laws.

Past Performance

This Presentation contains statements regarding the past performance of the Company's ordinary shares. Past performance cannot be relied upon as a guide to future performance.

Forward-looking Statements

This Presentation or documents referred to in it contain forward-looking statements. These statements relate to the future prospects developments and business strategies of the Company and its subsidiaries (the "Group"). Forward-looking statements are identified by the use of such terms as "believe", "could", "envisage", "estimate", "potential", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements contained in this Presentation are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialises, or if underlying assumptions prove incorrect, the Group's actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward-looking statements. These forward-looking statements speak only as at the date of this Presentation.

No undertaking, representation, warranty or other assurance, expressed or implied, is made or given by or on behalf of the Company or any of its directors, officers, partners, employees or advisers or any other person as to the accuracy or the completeness of the information or opinions contained herein and to the extent permitted by law no responsibility or liability is accepted by any of them for any such information or opinions. Notwithstanding the aforesaid, nothing in this paragraph shall exclude liability for any representation or warranty made fraudulently.

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Strategy

Sunrise Resources is a low-cost project generator working in mining friendly, politically stable, Nevada, USA & Australia.

Our Focus is on the development of our three key industrial mineral projects and in particular on the development of our mine- ready CS Pozzolan-PerliteProject.

Our Strategy is to:

• Identify, acquire at low cost and add value to mineral opportunities.
• Partner with relevant leaders in their respective industries.
• Establish long-term earnings through joint developments, project sales and retained royalty interests.

This strategy is on track with

• Partner discussions in progress at our CS Pozzolan Perlite Project
• Option/Sale/royalty agreement with world leadings sepiolite producer, Tolsa, on our Pioche Sepiolite Project.
• Lease Option/Sale/royalty agreement leading gold producer Kinross Gold on our Jacksons Wash Gold Project.
• Royalty interests in Garfield Copper-Gold, Crow Springs Diatomite and Stonewall Gold-Silver Projects.
• Multiple projects acquired by low-cost claim staking including, most recently the Reese Ridge Zinc-Lead-Silver Project.

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CS Pozzolan-Perlite Project, Nevada

A "mine-ready" project

Extracting 500t bulk sample of natural pozzolan from CS Project

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What is …?

Natural Pozzolan

• is a naturally occurring Supplementary Cementitious Material ("SCM")
• is used to partially replace and reduce the use of ordinary Portland cement,
  a major source of the greenhouse gas CO2, in cement mixes, concrete and mortars. It increases concrete durability.
• takes the place of coal fly ash pozzolans, the supply of which is rapidly declining in the western world due to the continued closure of coal-fired power stations.

The natural pozzolan on the Company's projects in Nevada is a pozzolanic volcanic glass that needs only to be ground to be used as an SCM.

Perlite

• is a glassy raw material which expands on heating by up to 20 times in volume into a white or pale coloured low-density material.
• is used in various industrial and household applications such as insulation, paint texturing, plaster and concrete fillers, building material fillers, formed insulation and fireproofing.
• is also used as filter aids, insulating industrial cryogenic storage vessels and as a potting medium in gardening, horticulture (in cannabis growing) to aid water retention and aeration of the soil.
• is also a natural pozzolan in its raw form.

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Cement companies have a carbon problem

Cement production (ordinary Portland cement or OPC) is currently responsible for 7-8% of global carbon emissions from:

• Burning coal & natural gas
• Burning limestone (to produce cement clinker1) (CaCO3 CaO + CO2)

(1Cement clinker is an intermediate product that is ground with additives to produce ordinary Portland cement).

The cement and concrete industries are committed to net zero emissions by 2050.

This is an enormous undertaking for the cement industry, requiring structural change and alternative raw materials.

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Climate Change, Legislation & Natural Pozzolan

Use of natural pozzolan in green cement is being stimulated by climate change agenda:

• In previous COP climate change conferences:
• • Most countries agree to phase out coal power generation.
  • China & India agree to phase down coal power generation.

& the "greening" of the cement & concrete industries:

• California introduced "Cement Decarbonization Legislation" requiring zero carbon emissions from cement production by 2045. Similar Federal legislation is expected to follow.
• US Portland Cement Association publishes "Roadmap to Carbon Neutrality" where one key strategy is increasing substitution of cement with SCMs like natural pozzolan.
• Concrete producers under increasing pressure from specifiers to produce concrete with less "embodied" carbon.
• US State Departments of Transport set to mandate use of SCMs in State infrastructure projects.

& US government economic stimulus:

• US Congress approved $1trillion infrastructure bill should increase concrete demand and prioritises projects with a green advantage.

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Market Forecasts Cement & Natural Pozzolan

Market forecasts provided to the Company show that, considering the US as a whole:

• The consumption of cementitious materials (including ordinary Portland cement) is forecast to increase at a 10% annualised rate from just over 129 million tonnes to over 154 million tonnes by 2030.
• The production of ordinary Portland cement will reduce, albeit marginally, as no new cement plants will be built, nor existing plants expanded, so cement clinker production will be relatively steady.
• The increased consumption of cement will come entirely from increased use of the main SCMs through the production of blended cements or by blending SCMs and cement at the ready-mix or casting plants or at various cement terminals.
• Fly ash production will reduce from over 24.3 mtpa in 2021 to 15.7 mtpa in 2023 but consumption will increase and be met from overseas imports and/or reclamation of historically ponded fly ash. US consumption and production of ground blast furnace slag will increase marginally, constrained by domestic and international availability, and changing iron and steel making technologies.
• US consumption and production of natural pozzolan will increase from 1.2 mtpa currently, to nearly 6 mtpa by 2030.

Natural pozzolan is benefitting from reduced availability of fly ash due to the closure of coal-fired powers stations.

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CS Project - Mine Ready

• Permitted for production - first drill hole to issue of mine permit in just 4 years.
• Long-lifeproject - 27-year mine plan targeting production of:
• • 14.5 million tons of pozzolan at starting rate of 100,000t per year, climbing up to 500,000t per year.
  • 1.3 million tons perlite starting at minimum rate of
    20,000t per year, climbing up to 100,000t per year (for 15 years).
• Large unexplored areas can substantially increase mine life.
• Open pit operation with low strip ratios: 0.25 tons waste per ton ore in Main Zone, 0.16 in Tuff Zone, most waste mined after Year 8.
• Adjacent to County maintained road, 120KV power line and 9 miles off Highway 6.
• 20 minutes from Tonopah (regional town).
• Targeting pozzolan markets in southern California and Nevada, and raw perlite markets throughout the USA.
• Natural Pozzolan currently sells for c. US$100 delivered into Las Vegas and the cement price is currently around US$140 and rising.
• Raw perlite last published (USGS) price: US$66 at mine gate (average all grades).

Mine Plan Full Build-out

Northeast Zone

Main Zone

Tuff Zone

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