PROJECT DEVELOPMENT WITH A SIGNIFICANT MARGIN FOR GROWTH #GOLD #NICKEL #PGM

CORPORATE PRESENTATIONJULY 2020

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DISCLAIMER

AIM:KAT 2

ABOUT KATORO GOLD PLC

AIM:KAT 3

Katoro Gold Plc is an AIM quoted focused gold and mineral exploration and development company.

It currently has 2 projects in Africa and aims to further diversify its portfolio through the acquisition of new projects. It’s strong management team with significant in-country and sector experience is key in this strategy.

Based on a deep understanding of and significant hands-on experience in the minerals and mining industry, with specific focus to Africa, the company is geared to unlock project value-based cost effective operational implementation and ongoing management; long standing relationship with the value chain of service providers; and long-standing relationship with regulators and government. With this background, it aims to identify and acquire value accretive opportunities to build an African focused gold and mineral exploration and development company. It currently has three projects in development, and a near term gold production project in JV.

BOARD OF DIRECTORS

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Louis has over 25 years’ experience in business development, promotion and financing in both the public and private sectors. In recentyears, he has concentrated on the exploration and mining area where he has founded, promoted and developed several junior mineralexploration companies based mainly on Tanzanian assets. Previous roles include Vice-President of Canadian listed Great Basin Gold (TSX:CBG) whilst other current roles include CEO of Kibo Mining plc (AIM and AltX listed).

Louis Coetzee

Executive Chairman

Louis is an experienced project manager with more than 19 years’ experience of practical project development and execution in themining and extractive industry. He has gained valuable experience in mineral exploration, feasibility studies and greenfield miningprojects, spending much time in South, Central and East Africa, as well as the Middle East.Louis Scheepers

Non-Executive Director

Myles has a comprehensive background in all technical and financial facets of the resources sector, specialising internationally in resourceevaluation and project assessment. This follows a 10-year career as an exploration and mine site geologist in Australia covering basemetals and gold. He holds a BSc (Hons) in Geology from University of Wales College, Cardiff and an MSc (MinEx) from the Royal School ofMines in London, and also holds a Graduate Diploma of Business (Finance).

Myles Campion

Non-Executive Director

Paul is a Fellow of the Chartered Institute of Accountants of England and Wales and is a Member of the UK’s Chartered Institute ofSecurities and Investment. He co-founded HD Capital Partners Ltd in 2010, a corporate advisory business that is authorised and regulatedby the UK’s Financial Conduct Authority. Whilst at stockbroking firm WH Ireland, Paul acted as the corporate finance adviser on numerousflotations, fundraisings and provided advice on takeovers and other transactions in the private and public arena.

Paul Dudley

Non-Executive Director

Tinus is a lawyer by profession. He has served on the boards of a number of public companies including Kibo Mining plc., GoldsourceMines Limited, Africo Resources Limited and Diamondworks Limited that have made significant successful investments in explorationprojects in Africa and North America, and has more recently served as the CEO of private investment companies Rusaf Gold Limited andMzuri Capital Group Limited, both of which have successfully developed and sold mineral projects in Russia and Tanzania in the last sevenyears.

Non-Executive Director

Lukas Marthinus Maree

PROJECTS OVERVIEW

AIM:KAT 5

BLYVOORA strategic near term gold productionopportunity in South Africa, focusedon the reprocessing of an existing 1.34million ounce of gold ('Moz of Au')JORC compliant tailings resource.Katoro has entered into a bindingconditional agreement to form a 50/50unincorporated joint venture withBlyvoor Gold Operations Pty Ltd andits holding company, Target MineConsulting (Pty) Ltd.

HANETILocated in central Tanzania and covering anarea of approximately 5,000 sq. km the 75%owned Haneti project is a polymetallic systemwith identified potential for nickel (sulphide andlaterite), Platinum Group Metals, copper, gold,lithium and rare earth elements. Katoro plans toimplement a drill programme at Haneti, focusedon nickel sulphide and PGM targets at MihanzaHill and Mwaka Hill, the two priority targets.

IMWERU/LUBANDOOn the 29 June 2020, the Company announcedfinal disposal of the Imweru gold project for atotal staged consideration of US$1.0 million anda 1.5% Net Smelter Royalty ('NSR') on all futuregold production. The transaction has beenapproved by the Mining Commission inTanzania and thereby the final ConditionPrecedent now met.

Katoro has entered into a binding conditional agreement to form a 50/50 unincorporated joint venture with Blyvoor Gold Operations and its holding company, Target Mine Consulting

(Pty) Ltd.

The JV Partners plan to exploit potentially viable deposits of gold and any other minerals from six gold tailings dams owned by Blyvoor in South Africa, which contain a JORC Code

compliant resource of, in aggregate, 1.34Moz of Au at an average grade of 0.30g/t Au.

The Project already has in place the requisite mining licence and environmental impact assessment ('EIA') for the reprocessing of the tailings, allowing production to commence

immediately upon commissioning of the processing plant.

Subject to funding, the JV Partners are targeting initial production of up to 250,000 tonnes per month (tpm) of material from the tailings as part of a production ramp-up to achieve

production of 500,000tpm within two years.

Mine life of 25 years building to a production capacity of 500,000 tons per month and 35,000 ounces of gold production per annum. Overall production of 661,171 ounces of gold over the

25 years, generating revenue of US$992m.

Low cost operation with an estimated All-in Sustaining Cost ('AISC') of US$727 per ounce of gold and an All-in Cost ('AIC') of US$920 per ounce of gold. Total Project capital costs of

US$110m across the life of the Project, with peak funding requirement of US$36.4m.

The Project is finance ready, with the debt equity to be raised at project level, minimising Katoro Gold share dilution.

BLYVOOR GOLD TAILINGS PROJECT, SOUTH AFRICA

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BLYVOOR GOLD MINE HISTORY

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The Blyvoor Gold Mine, inclusive of the TSF site is located 75km south west ofJohannesburg in the Gauteng Province of South Africa. It lies approximately 6 kmsouth of Carletonville.

Blyvooruitzicht Gold Mine, in its heyday during a seven decade period in themiddle of the 20th Century (1937 - 2013), was the richest of the South African goldmines with recovered grades averaging over 14 g/t. In 1996 Blyvooruitzichtmerged with its neighbouring mine, Doornfontein Mine. From inception, these twounderground operations have produced a combined 1,767t of gold, with anincredible 825t of gold (26.5m ounces) SAMREC/JORC compliant resourcesremaining underground whilst the surface tailings dams contain further 1.3mounces of SAMREC/JORC compliant resources.

During 2015 and 2016, Blyvoor Gold negotiated and bought the mining right andcertain surface assets. The assets purchased were those considered to be essentialto bring surface tailings retreatment operations into production. The world classnature of the surface mineral resource allows for healthy investment returns to bemade from the capital investment required for the operation.

BLYVOOR KEY INFORMATION AND SITE MAP

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6 Tailings dams containing 1.3moz JORC compliant resources at an average grade of 0.3 g/t Au (for all the TSF’s).Production to be ramped up to 500,000 tpm expected after year 3 producing 36,700 oz Au per annum at its peak.Projected 25 year life of mine, at 50,000tpa productionProjected low all in sustaining costs (AISC) of $727.Environmental liabilities funded.Experienced management team with proven track record and significant relevant experience.

THE BLYVOOR TAILINGS – PLANT FLOW SHEET

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Proven mining and processing methodologies to beused:

• Hydro mining using recycled water.• Low cost slurry pumping and gravity trench to

process plant – pumping distance of 1-7 km.• Proven cyanide leach with 18 hour residence time.• Tailings deposition on licensed site.

Low technical risks – plant design operating successfullyfor more than 20 years in the Wits basin.

Tests show gold recoveries of >56% potential. to increase to 60% through pre-oxidation

Hydro Mining

Slurry receiving & trash

screening

CILElution & Electrowi

nning

Tailings Disposal

JORC COMPLIANT RESOURCE

AIM:KAT 10

Over 60 drill holes and 3,000m of drillingResources statement based on:• 2011 Coffee Mining SA Technical Report (prepared for DRD Gold)• 2012 Minxcon Resource Audit (prepared for Village Main Reef)• 2016 AB Global Mining resource statement (on TSF 7 only)• 2016 D. Whittaker resources audit• 2020 Minxcon Scoping Study

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Years 1-8 production from TSF7

Years 8-15 production from TSF6

Remaining TSF’s from year 16 onwards

First 8 years production from TSF7

Measured resource of 390koz Au @ 0.32g/t

2,500m resource drilling in 59 boreholes

All in sustaining cost (AISC) US $727/Oz

PRODUCTION SCHEDULE

THE BLYVOOR HIGH LEVEL PROJECT TIMELINE

12

First 9Plan & Prep Project Development Construction Trial

Production Production

1 Month 6 Months 9 Months 12 Months 25 Years

AIM:KAT

BLYVOOR SCOPING STUDY HIGHLIGHTS

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* Based on achieving the targeted production rate of 500,000 tpm by end year 2.** Source : Independent review of metallurgical test work by Minxcon : (Knight, J.W., Warschul, O.W, Visser F.J, Blyvoor Gold Operations (Pty) Ltd : Tailings Retreatment : Operating Cost Review, 12 December 2017.)*** Forecast prices taken from https://longforecast.com

Exceptional Financials*

Low Statutory Risk

Technically Robust**

Gold Price Forecast (USD)***

•Net Present Value ('NPV5') of US$131million.•A 25% Internal Rate of Return (and a Return on Investment of 260%.•Significant upside – Financials calculated at USD 1500/Oz.•All-in Sustaining Cost ('AISC') of US$727 per ounce of gold (25 years).•Total estimated free cash flow of US$267.4m across the life of the Project.

•The Project already has in place the requisite mining licence.•Environmental Impact Assessment ('EIA') for the reprocessing of the tailings in place.•No Legal requirement for BEE – social and labour plan sufficient.

For the purpose of the Study, and calculation of Net Present Value, an average recovery of 52% at a fixed residual gold grade of 0.14 g/t over the life of the Project has been used, with recoveries ranging between 50% and 62% over the various TSF's.

•Current : $1760•2020 : $2153•2021 : $2279•2022 : $2368 •2023 : $2228

* Based on achieving the targeted production rate of 500,000 tpm by end year 2.** Source : Independent review of metallurgical test work by Minxcon : (Knight, J.W., Warschul, O.W, Visser F.J, Blyvoor Gold Operations (Pty) Ltd : Tailings Retreatment : Operating Cost Review, 12 December 2017.)*** Forecast prices taken from https://longforecast.com

The 75% owned Haneti project is a polymetallic system with identified potential for nickel (sulphide and laterite), PlatinumGroup Metals ('PGMs'), copper, gold, lithium and rare earth elements ('REEs’).

Within the approximately 5,000 sq. km project area, the principle target zone is an 80 km long ultramafic belt with gradesfrom surface sampling of up to 13.6% nickel and 2.33 g/t combined platinum and palladium.Within the 80 km ultramafic belt is the principle target, Mihanza Hill, where 2015 geophysical work identified significantextensions to nickel sulphide prospective target rock formations and geochemical interpretation has identifiedprospectivity for chonolith type nickel-copper-PGM mineralisation.

Mihanza Hill is believed by the Company, based on desktop work undertaken, to have the potential to host a similar styleof mineralisation to the Sipa Resources Limited (ASX:SRI) Akelikongo nickel project in Uganda.Katoro has been developing, subject to funding, plans to implement a drill programme at Haneti, focused on nickelsulphide and PGM targets at Mihanza Hill and Mwaka Hill, the two priority targets.

The Company continues to explore all funding options for the advancement of Haneti, which may include further jointventures or farm-ins.The recent feedback received at the Mining Indaba conference in Cape Town, South Africa in early February 2020, includedconsiderable interest in large scale nickel exploration projects, from mid-tier and Tier 1 mining companies, and demon-strated to the Board the strategic value of Haneti.

THE HANETI PROJECT, TANZANIA

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THE HANETI PROJECT LOCATION

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THE HANETI PROJECT MAGNETIC DATA

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THE HANETI INVESTMENT CASE

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5,000 sq. km project area, theprinciple target zone is an 80 kmlong ultramafic belt.

Surface sampling of up to 13.6%nickel and 2.33 g/t combinedplatinum and palladium.

75% owned – JV with Power MetalResources (LON:POW) 25%.

Geophysics indicate potential forlarge scale nickel sulphide and PGMexploration targets at Mihanza Hilland Mwaka Hill, the two drill readypriority targets.

Considerable project interest frommid-tier and Tier 1 miningcompanies for JV & earn-in.

On 29th June 2020, the company announced the finalisationof the disposal of 100% of the Imweru Gold project to LakeVictoria Gold Ltd (LVG). (RNS – 29th June 2020)

LVG, an unlisted private company limited by shares,incorporated in Australia, has agreed to acquire Reef Miners,holding the Imweru Gold project, for a total stagedconsideration of US$1.0 million and a 1.5% Net SmelterRoyalty ('NSR') on all future gold production from Imweru.

LVG is focused on identifying significant gold resources inmineral-rich Tanzania. LVG operates multiple explorationlicenses including its key project, the Imwelu Gold Project,which is located adjacent to Imweru and holds a mininglicence. Following the acquisition of Imweru, LVG will be wellpositioned to develop a large potential gold resourceconsisting of both Imweru and Imwelu.

AIM:KAT 18

Imweru is in the Lake Victoria Goldfields region of northernTanzania and forms part of the Imweru Licence Portfolio ownedby Reef Miners Limited, a 100% Tanzanian registered subsidiaryof Kibo Gold Ltd, which is a 100% owned Cypriot subsidiary ofthe Company.

Imweru is approximately 120 km directly southwest of the city ofMwanza in northern Tanzania and the towns of Geita and Katorolie respectively 33 km to the east and 13 km to the south.

The Subsidiary is also the 100% owner of the Company's earlierstage Lubando gold project ('Lubando') and Katoro's other goldprospecting licences in Tanzania.

Together, Imweru and Lubando have a combined JORCcompliant gold resource of 754,980 oz of gold.

IMWERU AND LUBANDO GOLD PROJECTS

Projects Disposal

KATORO – A COMPELLING INVESTMENT CASE

AIM:KAT 19

BLYVOOR –GOLD TAILINGS PROJECT

Near term, finance ready, strategic gold production opportunity with a high experienced JV Manager in place.JORC compliant resource of 1.34Moz of Au.The Project already has in place the requisite mining licence and environmental impact

assessment.The Project is targeted to produce approximately 35,000 ounces of gold per annum and to have a

25-year life of mine.Low all in sustaining costs ('AISC') of approximately US$727/oz

HANETI PROJECT -NICKEL & PGM

75% ownership of the project with potential for discovery of large scale Nickel and PGM deposits.5,000 sq. km project area, with an 80 km long ultramafic belt with grades from surface sampling of

up to 13.6% nickel and 2.33 g/t combined platinum and palladium.Drill ready programme at Haneti, focused on nickel sulphide and PGM targets at Mihanza Hill and

Mwaka Hill, the two priority targets.

KATORO GOLD - FINANCIALS & SHAREHOLDERS

AIM:KAT 20

Katoro Gold Plc: AIM: KATMarket Cap: £6.4m (as at 9/07/20)Shares in Issue: 323,698,310Warrants: 69,066,666Options: 14,944,781Convertible Loan Notes: 6,214,286The Percentage of Shares Not in Public Hands: 38.96%

Stakeholder %Kibo Energy Plc 29.7

Sanderson Capital Partners Ltd 6.18Power Metal Resources Plc 3.09

Existing Options, Warrants

Number Price

Director Options 14,944,781 1.30pPower Metal Resources

Warrants10,000,000 1.25p

Placing Warrants 5,200,000 1.50pPlacing Warrants 17,200,000 2.0pPlacing Warrants 36,666,666 3.0p

CONTACT KATORO GOLD PLC

AIM:KAT 21

+44 20 0930 6219

@KatoroGoldPlc

Katoro Gold PLC

60 Gracechurch Street, London,

EC4V 0HR, United Kingdom

www.katorogold.com

info@katorogold.com