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AFRICAN LION RESOURCES NEW GOLD DEPOSIT DISCOVERY IN MOZAMBIQUE

CHIFUNDE GOLD PROVINCE DISCOVERY: “Potentially one of the most exciting African Gold deposit discoveries in recent years”KOBUS BADENHORST – INDEPENDENT CONSULTANT GEOLOGIST

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information otherwise made available to you by African Lion Resources Ltd (the “Company”), whether orally or in writing, in connection with the proposed issue of convertible loan notes by the Company to a

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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, and on the basis of

information known at, the date of this Presentation.

Forward looking information in this Presentation includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral

resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-

looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a

production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties

relating to the availability and costs of financing needed in the future, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and

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preparing the forward-looking information in this Presentation are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this Presentation, and no assurance

can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new

information, future events or otherwise, other than as required by law.

Neither this Presentation nor any copy of it may be taken or transmitted into the United States of America or distributed directly or indirectly, in the United States of America or to any resident thereof except in

compliance with U.S. securities laws.

The technical and scientific information in this document was reviewed and approved by Ricardo Valls, P.Geo.M.SC, Independent Competent Person under the Australasian Code for Reporting of Exploration

Results, Mineral Resources and Ore Reserves and a Qualified Person under National Instrument 43-101.

LOCATION – Mozambique 3

• Politically stable & multi-party democracy

• Economic Growth & Foreign Investment

• GDP forecast >7% from 2017 onwards

• 80% of World Bank’s MICA Guarantees Issued in

Mozambique

• “Mining friendly” - High inflow of Foreign Direct

Investment (FDI)

• Multi-billion dollar investments in mining, oil and gas

• Mozambican Mineral Resources Governed by Mining

Law 2014

• Transparent Mining Licensing system (Cadastre System)

• Prospecting and Exploration License (valid up to 5 years

and can be extended for 3 more years).

• 6% Production Tax

• A Prospecting and Exploration License can be converted

to a Mining concession (valid for 25 years and can be

extended for a further 25 years)

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• Significant mineral discoveries: Graphite, Rubies, Gold, Coal,

Heavy Mineral Sands, Titanium, Tantalite, Vanadium, Lithium,

Uranium, Phosphate, Iron Ore, Marble, Kaolin, Copper

• Second largest Gas discovery in the world

• Financial Times June 2018 “Mozambique to become a gas supplier

to world”

• Estimated 5 trillion cubic metres of natural gas in the Rovuma

basin

• Multi-billion dollar investments from:

Mozambique – Favourable Investment Attraction for Mineral Resources & Oil and Gas

ALR Chifunde Gold Project 5

• Concession 7113L, with a total area of 189km2

(18,900 hectares). Planned expansion is

currently underway

• High Grade Shear zone hosted Lode Gold

deposit yielding up to 40g/t

• The known extent of the Chifunde Gold

Discovery is contained along a strike of 2.5km

• Highly experienced team with over 15 years

operating and entrepreneurial experience in

Mozambique

• Shear Zone and associated ramp structures

over 60m wide

• Ricardo Valls (ICP) complete NI43-101

• License held through Joint Venture

corporation with 20% held by Mozambique

partner (MP)

• Under the JV Agreement, a payment of

U$50,000 was made and monthly payments of

U$1,500 are due to MP for duration of JV.

PRIMARY DEPOSIT – ALR Gold Project6

Main Hard Rock Deposit

Numerous areas where artisanal

mine workings are evident, the

strike length is over 2,500m

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• Over 400 artisanal workers,

mining primary gold deposits

from surface to ~25m along a

> 2, 500m strike

• Artisanal miners are producing

25kg of gold per month from

primary crystalline deposits

GOLD RUSH UNDERWAY

ARTISINAL WORKERS ALREADY MINING GOLD ON

SITE

GEOLOGY PRIMARY DEPOSIT – ALR Gold Project8

• Gold project is located within a geological

environment dominated by

Mesoproterozoic, metamorphic rocks

• Amphibolite gneiss of Mualadzi Group

(P2Dvl) traversed by N-S Shear zone as

well as interlinking NNE-SSW striking

shear zone

• The hard rock artisanal mining is focussed

on quartz-sulphide veins associated with

shear zones and sinistral strike-slip faults

• 4 large artisanal pits mined along the N-S

striking Mussengueredza Shear Zone

producing 25kg of gold per month

• Open at depth and over 2,500m strike

length of hard rock mineralization

• Contains in-situ grades of up to ca. 40g/t1. confirmed with test work at SGS

Laboratories

1. Samples taken Jan 2019 by Dr Andy Friese and Kobus Badenhorst – Independent Consultant

Geologists

ALR DEPOSIT – Classic Shear-Hosted Lode Gold Deposit 9

Examples of Shear Hosted Gold Deposits:

❖ Ashanti Belt (Ghana)

❖ Blanket – Vubachikwe (Zimbabwe)

❖ Kalgoorlie (Australia)

❖ Kirkland Lake (Canada)

The shear zone system represents a ca. 200 km wide structural corridor that runs parallel to the N-S striking Pan African Suture Zone between East and West Gondwana

N

5-8mShear zone

60m Ramp

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WORK COMPLETED

1. Community Protocol and Consultation

2. Environmental License

3. Mapping

4. Soil Sampling and Pitting

5. Lineament Analysis

6. Satellite Interpretation

7. Helicopter Aeromagnetic and

Radiometric survey flown

8. Geophysical Analysis

9. Drilling Target Report

10. Application to convert to mining

concession

11. NI43-101 Report submitted on SEDAR

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GEOPHYSICAL INTERPRETATION MAP AND DRILL TARGETS

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PHASE 1: EXPLORATION PROGRAM

1. Trenching: 1,000-3,000m3

2. Drilling: 3,500-6,500m

3. NI43-101 Report Update

4. Listing

USE OF PROCEEDS (USD) – Pre IPOPHASE 1

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Activity UOM Total Project

Trenching US$ 280 600

Drilling US$ 1 122 170

Geological Studies & Reports US$ 848 600

Laboratory Analysis US$ 779 660

Corporate US$ 468 970

Total US$ 3 500 000

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PHASE 2: EXPLORATION PROGRAM

1. Trenching – 9,000m3

2. Drilling – 20,000m

3. Define NI43-101 resource

4. Scoping Study

5. Environmental Impact Study

6. Plant and Pit Design

NEXT STEPS – ALR Gold Project - (The Dates are Target Estimates)

Activities 2016 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020

Discovery of Chifunde Gold

Deposit

Securing Tenement over entire

known Deposit

Environmental impact and

management study

Initial Field Work and Sampling

Field work and confirmation

trenching

Financial close

Commence drilling program

Resource statement

Listing

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AFRICAN LION RESOURCES TEAM

MR. COBUS VAN WYK – Chief Executive OfficerMr van Wyk is extensively experienced exploration and mining entrepreneur active in Mozambique since2004. He directly contributed to securing the current project’s concessions via extensive contacts in theMozambique government and business community. Mr van Wyk has personally identified prospective areas anddone due diligence on 1,800 concessions. His mining development experience in Mozambique includesTantalite, Coal, Gold, Rubies, Graphite and Heavy Mineral Sands. Mr van Wyk completed his MBA from theUniversity Of Wales. He has over 20 years of experience in the financial markets and corporate finance and 20years of experience as director of listed and unlisted companies.

MR. FRANCO JORDAAN - Chief Financial Officer

Mr Franco Jordaan is an expert in all aspects of financial accounting, management reporting, systems, corporategovernance, treasury, marketing and projects. He has worked for major players including Impala platinum,Eastplats, Trafigura and Vedanta, and has experience with multiple commodities (Platinum group metals, Ironore, Chrome, Copper Zinc, Lead, Silver). He has been involved in mining, exploration processing and refiningsince 2001, and has first-hand experience of doing business in Angola, DRC, Namibia and South Africa. MrJordaan completed his B.comm hons. Degree, CIMA advanced diploma, PMP and CCP.

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AFRICAN LION RESOURCES TEAMDR. EVAN KIRBY - Non-Executive Technical Director

Dr. Evan Kirby is a metallurgist with 40+ years’ experience and extensive corporate and technical expertise. Hehas held leading roles in world-class developments and several ASX and AIM-listed mining companies. 16 years’experience in South Africa with Impala Platinum, Rand Mines and then Rustenburg Platinum Mines. Dr. Kirby hasexperience in management and technical positions with Minproc Engineers and Bechtel Corporation (Australia).He is a founder of Metallurgical Management Services, Australia.

MR. FELICIO ZACARIAS - Chairman of the Board in Mozambique

Mr Felicio Zacarias is the Chairman and Mozambican representative of the Regius Group. Mr. Zacarias holds aBachelor Degree in Economics. Mr Zacarias is a highly respected and prominent figure in the Mozambicanbusiness arena. Mr Zacarias was a Governor of three different provinces with the highlight of his career beingappointed as Minister of Public Works in Mozambique. Following his tenure as Minister, Mr Zacarias allocated allhis time to the private sector. Mr Zacarias has more than 30 years experience in doing business in Mozambiqueand is an invaluable asset to the Board of Directors of Regius.

DR. ANDREAS FRIESE - Independent Structural Geologist and QP (Qualified Professional)

Dr Friese has been involved in the mining and exploration industry for the past 27 years. In 2006, he founded Terra Explora Consulting, based in Johannesburg, and has since been working as an independent consulting geologist on a wide range of mining and exploration projects across Africa and Southeast Asia. Dr Friese’s primary expertise and experience include a variety of geoscience disciplines, with main fields of interest and research being applied structural geology, economic geology, global palaeo-/neotectonics and geodynamics of the Earth and their practical applications to mineral (precious and base metals, kimberlites) and groundwater exploration and target generation, in-mine geotechnical hazard assessment of open cast and underground mines, and project evaluation.

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AFRICAN LION RESOURCES TEAMMS. GRACA FERREIRA - Country Manager

Ms Ferreira completed a Diploma in Master of Marketing Research, as well as a Diploma in Society for HumanResources Management, at the EIC Freire de Anfrade in Beira, Mozambique. In 1969 she started working for aninternational company, Safrique PTY Lda, as the Public Relations Officer. In this position Ms Ferreira accumulatedconsiderable knowledge on marketing and tourism. In 1974, she opened an Importing and Exporting company inSouth Africa, mainly dealing with Africa, Asian and the USA. In 1983 Ms Ferreira started working for a group in SouthAfrica, Metro Cash & Carry, as the Marketing Director of their International Division. In 2001 she decided to pursue acareer as an Investment Advisor in Mozambique. In 2011 she joined Regius Resources Group as the CountryManager, where she is responsible for all the company’s activity in Mozambique.

MR. HÉLMER MANJATE – Manager and Government Relations

Mr Manjate completed a Bachelor’s degree in Diplomatic and International Relations, in 2003, at the HigherInstitute of International Relations (ISRI) of Mozambique in Maputo. Mr Manjate is now starting with his Master’sDegree in Oil & Gas Management at the Higher Institute of Sciences & Technology of Mozambique (ISCTEM).In 1999 he started working for a Private Company as a Service Provider, where he accumulated considerableknowledge about foreign investment in Mozambique. Inspired by the discovery of vast mineral resources inMozambique, he decided to redirect his career to the Energy and Mining sectors which lead Mr Manjate to joinRegius Resources Group in 2009. He is now responsible for managing all legal aspects pertaining to the miningsector, labor and environmental affairs, as well as government relations.

MR. RICARDO VALLS - Independent Senior Geologist and QP (Qualified Professional)

Mr. Ricardo Valls is professional geologist with over thirty years in the mining industry, with extensive geological,geochemical, and mining experience. Projects included from regional reconnaissance to local mapping, diamonddrilling and RC-drilling programs, open pit and underground mapping and sampling, geochemical sampling andinterpretation, and several exploration techniques pertaining to the search for diamonds, PGM, gold, nickel, silver,base metals, industrial minerals, oil & gas, and other magmatic, hydrothermal, porphyritic, VMS and SEDEX oredeposits.

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AFRICAN LION RESOURCES TEAM

MR. PAULO CINTRA - Mining Engineer

Mr. Paulo Cintra holds a degree in Mining Engineering with more than 25 years’ experience in production witha diverse mixture of products and technologies, bringing valuable hands-on operations management.Experienced primarily in prospecting mineral processing and quarry exploration operations having worked inPortugal, Spain Angola and Mozambique.

MR. GERHARD BURGER - Mine Manager

Mr. Gerhard Burger a highly experienced site manager. Practical, hands on experience on plant installation,knowledge and proficiency of all machinery on a processing plant and mining site. Hands on participation withthe training of locals. General supervision and overseeing of the onsite team to ensure the staff adhere tostrict controls and procedures to ensure the project runs smoothly.

MR. KOBUS BADENHORST – Independent Geologist and QP (Qualified Professional)

Mr Kobus Badenhorst obtained his BSC (Geology) in 1992 and BSC (Hons) (Geology) in 1993, both from theUniversity of the Free State, South Africa. He has more than 20 years’ experience in the Exploration and Miningindustry. Mr Badenhorst has been the Managing Director of GeoActiv (Pty) Ltd since 2007. He is involved invarious projects for different commodities. Greenstone Stella Platinum; various Bushveld PGM projects; heavymineral sands projects in South Africa West coast, Sri Lanka and Bangladesh; Postmansburg Iron Ore Projects;Zimbabwe Great Dyke PGM and Greenstone Gold; Zambia Cu; Mali Au etc.