Lithium Australia NL : BlackEarth Minerals update – Australian Graphite Conference

ACN 610 168 191

Building a Future -

Based on the Past

Australian Graphite Conference

April 2017

ACN 610 168 191

DISCLAIMER

This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in that jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in that jurisdiction.

This presentation does not constitute financial product advice and has been prepared without taking into account the recipients' investment objectives, financial circumstances or particular needs, and the opinions and recommendations in this presentation are not intended to represent recommendations to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include, among others, the risk of adverse or unanticipated market, financial or political developments.

Certain statements contained in this presentation, including information as to the future financial or operating performance of BlackEarth Minerals NL (''the Company') and its projects, are forward-looking statements. Such forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies, involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements, and may include, among other things, statements regarding targets, estimates and assumptions in respect of commodity prices, operating costs and results, capital expenditures, ore reserves and mineral resources and anticipated grades and recovery rates and are, or may be, based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

The Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words 'believe', 'expect', 'anticipate', 'indicate', 'contemplate', 'target', 'plan', 'intends', 'continue', 'budget', 'estimate', 'may', 'will', 'schedule' and other, similar expressions identify forward-looking statements. All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors include, but are not limited to: competition; mineral prices; ability to meet additional funding requirements; exploration, development and operating risks; uninsurable risks; uncertainties inherent in ore reserve and resource estimates; dependence on third-party smelting facilities; factors associated with foreign operations and related regulatory risks; environmental regulation and liability; currency risks; effects of inflation on results of operations; factors relating to title to properties; native title and Aboriginal heritage issues; dependence on key personnel, and share-price volatility. They also include unanticipated and unusual events, many of which it is beyond the Company's ability to control or predict.

Photographs in this presentation may not depict assets of the Company.

COMPETENT PERSON'S STATEMENT

The information in this report that relates to reporting of Exploration Results is based on and fairly represents information and supporting documentation prepared by a member of the Australasian Institute of Mining and Metallurgy, who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration. They are qualified as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and consent to the inclusion in this report of the matters based on information in the form and context in which it appears.

ACN 610 168 191

BACKGROUND

BlackEarth Minerals NL was incorporated in 2016

The Company initially focused on a portfolio of graphite assets in Western Australia; it expanded this portfolio in early 2017 when it acquired the Maniry and Ianapera graphite projects (Madagascar)

BlackEarth Minerals NL is completing all necessary technical, legal, financial and regulatory requirements ahead of an IPO in H1 2017

The Company has assembled a Board and Management group that have the necessary corporate, project development and graphite related technical skills and experience to deliver value for shareholders

ACN 610 168 191

CURRENT ASSETS

Western Australia - The Marathon

Greenhills - 2 ELs granted and 2 pending Graphite outcropping on 3 leases

Donnelly River - close proximity to historic graphite workings

from the early 1900's

Northern Gully - known graphite occurrences associated with

the Lady Sampson Mine

Yalbra - Located 5km along strike from Buxton Resources Project (4Mt @ 16% TGC)

Osmond Range - approximately 180 km south and 150 km southwest of the townships of Wyndham and Kununurra, respectively. Strong GEOTEM conductor with little exploration undertaken to date