Mustang Resources : August 2016 Presentation

MUSTANG RESOURCES LIMITED

Mustang Resources Limited

(ASX:MUS)

Focused on developing the Montepuez Ruby Project, Mozambique

Mustang Resources Limited (ASX: MUS) is an emerging gemstone explorer focused on the near-term development of the highly prospective Montepuez Ruby Project in Northern Mozambique.

• Located in Cabo Delgado Province in close proximity to the world's single largest ruby deposit held by LSE-listed Gemfields PLC

• Licence areas cover 15,800ha (158 km2);

• High-quality ruby deposit discovered by Mustang on license 4143L in July 2016

• Starting bulk sample mining early September 2016

  BALAMA GRAPHITE PROJECT (60% to 95% Interest)

• Located along strike from Syrah Resources significant graphite resources

• High grade graphite mineralization with large flake sizes confirmed

• Targeting maiden JORC Resource in 2016

  SAVE RIVER DIAMOND PROJECT (70% Interest)

• Located in Southern Mozambique along the Save River, after the confluence with the Runde River in Zimbabwe

• Bulk Sampling in 2015 confirmed presence of diamond mineralization

• First gem-quality diamonds found in Mozambique (License 4525L)

Christiaan Jordaan - Managing Director

Mr. Jordaan is the former Chief Executive Officer and co-founder of Regius Resources Group Ltd ("Regius"), the Mozambican-focused mining and exploration company that has been operating in Mozambique since 2004. Regius currently holds 9.2% of the issued capital of Mustang. Christiaan has extensive experience in managing mining and energy projects in Mozambique, an intimate knowledge of the Mustang projects from their inception, as well as the local operational environment. He is a Member of the Australian Institute of Company Directors, holds a Commercial Law Degree, and prior to co-founding Regius, he was a director of a financial services group in South Africa where he was responsible for risk management. He is based in Mustang's Sydney head office.

Cobus van Wyk - Mustang Operations Director

Mr van Wyk is the Chief Executive Officer and co-founder of the Regius group of companies, obtained his Bachelor of Marketing at the Tshwane University of Technology and his MBA at the University of Wales. Mr van Wyk started his career in the financial industry and capital markets in the Bankcorp Group in South Africa. He commenced work on the Johannesburg Stock Exchange ("JSE") in 1994 and is a qualified portfolio manager and Stockbroker. Mr van Wyk has more than 23 years' experience in the financial services industry which he is applying to the mining sector. Mr van Wyk has more than 12 years' experience in mining and exploration ventures in Mozambique (tantalite, coal, diamonds) as well as South Africa (platinum group metals).

Paul Allan - Independent Consulting Geologist

Paul Allan (BSc Hons., Dip. Bus. M.) has over 25 years experience in multi- commodity geology (predominantly precious stones exploration and evaluation). His initial experience began with Anglo American Research Laboratory (De Beers) in Kimberlite mineral chemistry & petrography and culminated in his role as Project Geologist for Gemfields PLC (GEM:LN) where he was instrumental in the initial development of their Montepuez Ruby Project in Mozambique. During his career in the gemstone industry Paul has also been involved in several diamond related ventures throughout Southern Africa which includes a role as the Regional Exploration Manager for SouthernEra (a Canadian Junior Diamond and platinum company) as well as Senior Project Geologist for Firestone Diamonds (FDI:LN). for several projects throughout Southern Africa, including the BK16 project in Botswana.

• Expatriate mining team (7); lead by Mr. Gerhard Burger >100years collective hands-on experience of African gemstone mining operations with technical support from Mr. Paulo Cintra a Portuguese industrial & mining engineer with 20 years experience

• Geology field team led by Ms. Sara Turnbull (Msc.) with support from Mr. Paul Alan & local Mozambican geologists

• Logistics & operational support provided by Ms. Graca Calheiros & Mr. Helmer Manjate with >70 years collective

Mozambican business experience

• Before the rise of the Montepuez region in Mozambique, supply was highly fragmented and unreliable (Myanmar, Afghanistan, Madagascar)

• Global polished ruby market size estimated at US$2billion p.a (2014) - total coloured gemstones at US$8.3 billion p.a (2015)

• Rubies are the most expensive gemstone after diamonds - with fine rubies

  +5cts extremely rare

• Strong demand from US, Europe, India, Thailand and China

• Consumer demand has caused prices of rubies to increase 63% over past 8 years

• 25.59cts 'Sunrise' ruby ring sold for US$30million in June 2015 at Sotheby's

  Geneva auction

• Mozambique alluvial rubies selling for over US$680 per carat with quality that matches Burmese 'Pigeon-Blood' rubies

• Six Gemfields Mozambique ruby auctions held since June 2014 have generated USD 195.1 million

• The Montepuez region in Mozambique is strongly positioned to play a

significant role in the growth of the global ruby market over the coming years

The 'Graff' Ruby

Carats: 8.62

Sale Price: US$8,372,094

The 'Sunrise' Ruby

Carats: 25.59

Sale Price: US$30,420,000