South Star Battery Metals Corporate Presentation - April 2022

July 2019 Corporate Presentation
Santa Cruz
Road To Production in Q2 2023
“Fundamental Value in a Premier Battery Metals Jurisdiction”
Corporate Presentation: April 2022
Graphite Project
TSXV: STS | OTCQB: STSBF

Cautionary and Forward-Looking Statements
www.southstarbatterymetals.com 2
This presentation includes certain statements that constitute “forward-looking statements”, and
“forward-looking information” within the meaning of applicable securities laws (“forward-
looking statements” and “forward-looking information” are collectively referred to as “forward-
looking statements”, unless otherwise stated). These statements appear in a number of places
in this presentation and include statements regarding our intent, or the beliefs or current
expectations of our officers and directors. Such forward-looking statements involve known and
unknown risks and uncertainties that may cause our actual results, performance or
achievements to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. When used in this presentation words
such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”,
“should”, “would”, “contemplate”, “possible”, “attempts”, “seeks” and similar expressions are
intended to identify these forward-looking statements. Forward-looking statements may relate
to the Company’s future outlook and anticipated events or results and may include statements
regarding the Company’s future financial position, business strategy, budgets, litigation,
projected costs, financial results, taxes, plans and objectives. We have based these forward-
looking statements largely on our current expectations and projections about future events and
financial trends affecting the financial condition of our business. These forward-looking
statements were derived utilizing numerous assumptions regarding expected growth, results of
operations, performance and business prospects and opportunities that could cause our actual
results to differ materially from those in the forward looking statements. While the Company
considers these assumptions to be reasonable, based on information currently available, they
may prove to be incorrect. Accordingly, you are cautioned not to put undue reliance on these
forward-looking statements. Forward-looking statements should not be read as a guarantee of
future performance or results.
To the extent any forward-looking statements constitute future-oriented financial information
or financial outlooks, such statements are being provided to describe the current anticipated
potential of the Company and readers are cautioned that these statements may not be
appropriate for any other purpose, including investment decisions. Forward-looking statements
are based on information available at the time those statements are made and/or
management's good faith belief as of that time with respect to future events, and are subject to
known and unknown risks and uncertainties, including those risks and uncertainties outlined
under “Risk Factors” in our most recent AIF, that could cause actual performance or results to
differ materially from those expressed in or suggested by the forward-looking statements. To
the extent any forward-looking statements constitute future-oriented financial information or
financial outlook, such statements are being provided to describe the current anticipated
potential of the Company and readers are cautioned that these statements may not be
appropriate for any other purpose, including investment decisions. Forward-looking statements
speak only as of the date those statements are made. Except as required by applicable law, we
assume no obligation to update or to publicly announce the results of any change to any
forward-looking statement contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions or changes in other factors
affecting the forward- looking statements, except as required by law. If we update any one or
more forward-looking statements, no inference should be drawn that we will make additional
updates with respect to those or other forward-looking statements. You should not place undue
importance on forward-looking statements and should not rely upon these statements as of any
other date. All forward-looking statements contained in this presentation are expressly qualified
in their entirety by this cautionary statement.
Confidential Material - This document contains confidential and private material that shall not
be re-transmitted to other parties that not its original addressee. All information contained
herein are for informative purposes and shall not be regarded as an offer, solicitation for any
financial transaction nor a valuation or commitment of financial / technical performance.
Cautionary Note: This PEA is considered by STS to meet the requirements of a Preliminary
Economic Assessment as defined by Canadian Securities Administrators' National Instrument 43-
101 ("NI 43-101") Standards of Disclosure for Mineral Projects. The economic analysis contained
in the technical report is based, in part, on Inferred Resources (as defined in NI 43-101) and is
preliminary in nature. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. There is no guarantee that all or any part of the Mineral
Resource will be converted into a Mineral Reserve. Inferred Resources are considered too
geologically speculative to have mining and economic considerations applied to them and to be
categorized as Mineral Reserves (as defined in NI 43-101). Additional trenching and/or drilling
will be required to convert Inferred Mineral Resources to Measured or Indicated Mineral
Resources. Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability. There is no certainty that the reserve's development, production and
economic forecasts on which the PEA is based will be realized.

Key Company Highlights
• Management team with proven track-record of taking projects
into production & operations in Brazil
• Phase 1 CAPEX fully funded with plant construction planned for
Q2 2022 and commercial production planned for Q2 2023
• Current market capitalization only 22% of project NPV
(pre-financing)
• Strong graphite demand in Brazil: high-tech battery market as
well as steel-making, foundries, lubricants, electronics and
automotive industries
• Graphite uses include: lithium-ion batteries, graphene, fire-
resistant insulation and coatings, and construction materials
• Two-phased approach to minimize risks and intelligently allocate
capital for shareholder value:
✓ Phase 1 – 5,000tpy Concentrate Pilot Plant
✓ Phase 2 – 25,000tpy Concentrate Plant
• Low CAPEX (<US$35M) in two Phases:
• Phase 1 – Pilot Plant (US$8M)
• Phase 2 – Large Plant (US$27M)
South Star Mining Highlights
Industrial
graphite
US$500 to US$2,500
per tonne
Battery grade
graphite
US$3,400 to
US$4,400 per tonne

Santa Cruz project situated
in second-largest flake-graphite
producing district in the world
Santa Cruz Graphite Project Advantages
Additional tests yielded
high-purity, battery-
quality products
Drill-ready targets
NI 43-101 PFS & updated
Resource Estimate completed
Open-pit deposit within
13,000 ha property
Large Geologic Upside
95%
of project unexplored. Entire
land package mineralized according
to Brazilian Mining Authority
Open at depth & along strike
LARGE &
EXTRA-LARGE
graphite flakes
10-15
Completed bench scale
& 30 tonne pilot-plant
testing programs
Produced quality
concentrates and
marketable flake sizes
95-99% Cg
Excellent large flake ore
Approximately
65% of ore
> 80 Mesh
GEOLOGY, EXPLORATION & RESOURCES
METALLURGY & PROCESS
KEY PROJECT HIGHLIGHTS
“The larger the flake size,
the higher the price!”
Low impurities &
Highly- crystalline
structure
• 14% of global production in 2018

STS Share Information
Cap Table (000s)*
Stock Information as of April 01, 2022
“Graphite demand just for battery storage is expected to grow 494% by 2050 to a total demand of 4.6Mt.
That doesn’t even consider growth coming from industrial or other high-tech uses like graphene or
expandable. It is one of the principal critical metals that will require the most investment. ”
Total Outstanding 102,533
Warrants @ $0.06 5,300 (Exp 05/2024)
Warrants @ $0.15 22,590 (Exp 02/2024)
Warrants @ $0.15 22,363 (Exp 10/2024)
Options @ $0.15 90 (Exp 06/2024)
Options @ $0.30 900 (Exp 05/2022)
Options @ $0.45 500 (Exp 08/2023)
Options @ 0.055 2,485 (Exp 08/2025)
Options @ 0.25 120 (Exp 04/2023)
Fully Diluted 156,737
Market Cap @ CAD $0. 18 $18.5M
Share of Mineral Demand from Energy Storage Under
IEA 2DS Through 2050
Source: World Bank 2DS scenario (2020)

Corporate Structure
• South Star Battery Metals Corp. is a public company,
traded on the Toronto Venture Stock Exchange
under the symbol STS and on the OTCQB under
symbol STSBF.
• Brasil Graphite Corp. is a wholly-owned subsidiary
incorporated in the Cayman Islands.
• Brasil Grafite Mineração Ltda. (“BGSA”) is a is a
wholly- owned exploration and development
company focused on developing the Santa Cruz
Graphite Project (“Project”) in the state of Bahia,
Brazil.
• BGSA owns 100% of the Santa Cruz Graphite Project.
Brasil Grafite Corp.
South Star Battery
Metals Corp.
(TSXV: STS)
Brasil Grafite
Mineração Ltda
Santa Cruz
Graphite Project
100%
100%
100%
South Star Battery
Metals AL
100%
Alabama Graphite
Project
Earn-In

Dave McMillan
Chairman
Priscila Costa
Lima
Indep. Director
Richard Pearce
Exec. Director
Eric Allison
Exec. Director
Dan Wilton
Indep. Director
Marc Leduc
Indep. Director
Richard Pearce
President & CEO
Eric Allison
Business Dev.
Samantha Shorter
CFO
CHF Capital
Markets
Investor Relations
Leadership Team
BOARD OF DIRECTORS
MANAGEMENT

Investment Highlights
Phase 1 Fully Funded & Construction Ready
Simple
Operations
Fully Permitted & Licensed
Environmental & mining
Ready for Construction
Mining Friendly District
With 80 + years of graphite production
Simple, Proven Flowsheet
& Technology
Experienced Management
Proven mine & plant builders
No Tailings Dam
With small environmental footprint
Open-Pit Mining & No Drill & Blast
With low strip ratio
Excellent Infrastructure
With gas, electric and excellent logistics

Investment Highlights
Phase 1 De-risked
Established
utilities and
infrastructure
Proven tested
process circuit
All licenses &
permits are valid
& up-to-date
Low capital
intensity
Low
geological risk
LOW HIGH
MEDIUM
PROJECT RISK
Stepping
into production
in phases
Projected increase
In demand
Supply
imbalance
Supply-chain
diversification
Low
environmental risk
Low OPEX
in proven producing
district

Santa Cruz Graphite Project
INFRASTRUCTURE COMPETITIVE ADVANTAGES
Phase 1 Construction Ready
Excellent Infrastructure
Experienced
workforce
nearby
Power, gas,
water all
within 5 km
Major port
of Ilheus is
270 km away via
paved federal
highways
from paved
highway
1.3 km

ESG & Sustainability
ESG & Sustainable Production is part of our Corporate DNA
ENVIRONMENTAL + SOCIAL + GOVERNANCE
✓ Renewable sources provide 80% of
Brazilian energy generation
✓ Low cost, tax-incentive solar power
project being studied
✓ Sustainable tailings management
with filtered tailings/dry stack
✓ Effective water management & low
freshwater demand with process
water recirculated
✓ Waste characterized as inert/non-
dangerous
✓ Low strip ratio
✓ Low vegetation suppression for
project construction (<2 ha)
✓ Committed to provide community
environmental education
✓ Progressive reclamation
✓ First major industry in the region
✓ Committed to responsible, equitable
hiring practices in partnership w/
community/municipality
✓ Phase 1 – 60-65 Est. Direct Jobs
✓ Phase 1 – 350 Est. Indirect Jobs
✓ Phase 2 – 120-125 Est Direct Jobs
✓ Phase 2 – 700 Est. Indirect Jobs
✓ Committed to provide community
training & educational opportunities
✓ Focus on worker safety w/
compensation tied to performance
✓ Committed to transparency and open
communication
✓ Committed to
community/stakeholder engagement
✓ Committed to ethical, professional
interactions
✓ Review, evaluate and update
regularly governance policies
✓ 2 Independent Directors
✓ Executive management primarily
lives in Brazil and is on-site and
hands-on
✓ TSX and OTC listing
✓ Audited financials
✓ Compensation tied to ESG
performance
✓ Committed to joining key industry
organizations and ESG frameworks
✓ Committed to transparency and
open communications

Global Markets
Projected Large Increase in Graphite Demand
• Brazil has a large internal demand for natural graphite (80-90kt/p.a.)
• Graphite has many uses outside of battery metals
• High-tech, graphene, military, etc.
• Natural graphite has advantages over synthetic:
• Lower cost
• Smaller environmental impact
• Easier to scale
• Higher energy density
• Need 10-15 new mines by 2025 to meet 2x
demand

Graphite Demand is in a Perfect Storm
For Battery Metals Supply
Global Markets
Source: 2020 World Bank - Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition 2DS Scenario
0%
1%
1%
4%
7%
9%
11%
18%
37%
56%
99%
189%
231%
460%
488%
494%
0% 100% 200% 300% 400% 500% 600%
Titanium
Iron
Chromium
Manganese
Copper
Aluminum
Moly
Lead
Neodymium
Silver
Nickel
Vanadium
Indium
Cobalt
Lithium
Graphite
2018 to 2050
Growth % (t)
1.73
3
8
15
33
138
366
415
644
694
781
1,378
2,268
4,590
5,583
0 1,000 2,000 3,000 4,000 5,000 6,000
Indium
Titanium
Neodymium
Silver
Moly
Vanadium
Chromium
Lithium
Cobalt
Manganese
Lead
Copper
Nickel
Graphite
Aluminum
2050 Demand Kt

Global Battery Market
Brazil - Premier Battery Metals Jurisdictions
• Brazil is the largest graphite producer of high-quality graphite outside of China with 80+ years of
continuous production and 3rd most important country in EV Battery Supply Chain.
Graphite Supply 2020
by Country
EV Supply Chain Ranking
By Country

Brazil - Premier Battery Metals Jurisdictions
Global Battery Market
Top 3 Most Profitable Operating Mines in
World are in Located in Brazil

Representative Santa
Cruz Graphite Project
Concentrates
30# 4% 95%
50# 32% 95%
80# 27% 97%
140# 17% 97%
-140# 20% 97%
Mesh Size (#) Distribution %Cg
+50 mesh with 98% Cg and +99.9% Cg
concentrates were also produced during
testing.
63% of concentrates contained jumbo to large
flakes (+30, +50 and +80 mesh).
Flake Percentage +80 Mesh
Santa Cruz World-Class Flake Sizes
Recovery 88%

Category
Tonnage
(t)
C
(%)
In-situ Graphite
(t)
Measured 3,947,550 2.40 94,740
Indicated 10,955,570 2.25 246,500
Total M&I 14,903,100 2.29 341,240
Inferred 7,911,450 2.32 183,550
Santa Cruz Graphite
2019 Mineral Resources Update
Summary*
The 2019 updated Resource Estimate shows strong geologic
potential and continuity of high-quality graphite
mineralization in friable, easily mined, weathered materials.
New areas with at-surface mineralization were discovered,
and the deposit is open both along strike and at depth.
* Cautionary Note: This updated resource estimate is considered by STS to meet the requirements of a
resource and reserve estimate technical report as defined by Canadian Securities Administrators' National
Instrument 43-101 ("NI 43-101") Standardsof Disclosure for Mineral Projects. Mineral Resources that are
not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that all or any
part of the Mineral Resource will be converted into a Mineral Reserve. Inferred Resources are considered
too geologically speculative to have mining and economic considerations applied to them and to be
categorized as Mineral Reserves (as defined in NI 43-101).Additional trenching and/or drilling will be
required to convert Inferred Mineral Resources to Measured or Indicated Mineral Resources.
2019 Santa Cruz Update Resource Estimate*

Santa Cruz Graphite
Mineral Reserves Summary*
The financial analysis in 2020 PFS shows very favourable and
robust results that highlight the Santa Cruz Project’s advantages in
the graphite sector.
* Cautionary Note: This PFS is considered by STS to meet the requirements of a Preliminary Feasibility Study as defined by Canadian Securities Administrators' National Instrument 43-101("NI 43-101") Standards of Disclosure for Mineral Projects. The economic
analysis contained in the technical report is based, in part, on Inferred Resources (as defined in NI 43-101) and is preliminary in nature. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that
all or any part of the Mineral Resource will be converted into a Mineral Reserve. Inferred Resources are considered too geologically speculative to have mining and economic considerations applied to them and to be categorized as Mineral Reserves (as defined
in NI 43-101).Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Measured or Indicated Mineral Resources. There is no certainty that the reserve's development, production and economic forecasts on which the PEA is
based will be realized.
2020 Santa Cruz Preliminary
Feasibility Study*
Post-tax NPV5% US$ 81,200,000
Post-tax all Equity IRR 35% p.a.
Post-Tax Free Cash Flow (LOM) US$129M
Payback Period 4 years
Key Financial Results
Mining Method Open Pit
Process/Metallurgy Milling & Flotation
Life of Mine 12 years
Annual Production (years 1-2): 5,000 t p.a.
Annual Production (year 4-11): 25,000 t p.a
Capital Costs – Phase 1 US$ 7,300,000
Avg. Operating Costs(LOM): US$ 396 per tonne of conc.
Avg. Weighted Price: US$ 1287/t
Key Parameters
Mineral
Reserve
Estimate
Tonnage Cg
In-situ
Graphite
(t) (%) (t)
Proven 3,989,635 2.49 99,340
Probable 8,318,795 2.35 195,490
Total P&P 12,308,500 2.40 295,400

US$28M Sprott Stream Financing
Long-term strategic partnership with Sprott Resources Streaming & Royalty Corp.
• The Phase 1 stream payment has a US$10M cash consideration to fund 100% of required Phase
1 CAPEX, which allows South Star to start construction in the next 45-60 days with commercial
production scheduled for Q2 of 2023.
• The Phase 2 stream payment has a minimum of US$9M and up to US$18M cash consideration
for partial funding of Phase 2 CAPEX (US$27M1), subject to SRSR Phase 2 due diligence as well
as investment committee update and approval.
• US$2M advance loan with use of proceeds to be used for equipment down payments, land
acquisition, contractor mobilization and engineering support services.
• Minimal shareholder equity dilution for up to US$28M cash consideration.
• South Star has the option to buy back 100% of Phase 2 Stream.
• Automatic stepdown of 50% of Phase 1 Stream after sales and delivery of 75,000 tonnes of
concentrate.
• Excellent post-stream LOM EBITDA margin of 51% (Phase 1 Stream + 100% Phase 2 Stream).
• Compelling combined cost of capital with significantly lower total financing costs compared to
other available capital market alternatives.
(1) Based on 2020 PFS Study
(2) Refer to April 5th, 2022 press release for additional details.

Alabama Graphite Belt - History

Alabama – Ceylon Graphite Project
US HWY
280
• 4-Lane
• Gas and
Power
High-Tension
Electric
Ceylon Property
Rushing Property

Alabama Graphite Belt – Geology
Weathered Graphitic Schist
Cg = 3.5%
Graphitic Quartzite
Cg = 4.0%

• USCM spins out Charge Minerals
(Ceylon + Rushing leases) to Hexagon
Spring 2019
• Detailed surface mapping Spring 2019
• Trenching Program Summer 2019
• Bulk Sampling Program Summer 2019
• Bench-scale Beneficiation Work at
GIRCU Fall and Winter 2019
Recent Project Developments

Surface Geology and Structural Map
compiled by Charge Minerals
Summer 2019 Trenching Overview
Avg grade between 3 and 5% Cg
29 Trenches
2,769m w/ 765
samples
+ Standards &
Duplicates

Bench-Scale Testing at GIRCU (China)
Product Mass, %
Fixed Carbon(FC)
Assay, %
Recovery, %
7th
Cleaner Conc 2.74 97.92 81.41
7th
Cleaner Tail 0.09 92.32 2.39
6th
Cleaner Tail 0.08 89.02 2.21
5th
Cleaner Tail 0.08 81.11 1.99
4th
Cleaner Tail 0.09 61.22 1.62
3rd
Cleaner Tail 0.16 32.88 1.61
2nd
Cleaner Tail 0.45 27.25 3.72
1st
Cleaner Tail 1.58 3.31 1.59
Rougher Tail 94.73 0.07 3.46
Head 100 3.29 100
Cumulative Product Mass, %
Cumulative Fixed
Carbon(FC) Assay, %
Cumulative
Recovery, %
7th
Cleaner Conc 2.74 97.92 81.41
6th
Cleaner Conc 2.83 97.65 83.80
5th
Cleaner Conc 2.91 97.41 86.01
4th
Cleaner Conc 2.99 96.97 88.00
3rd
Cleaner Conc 3.08 95.96 89.62
2nd
Cleaner Conc 3.24 92.82 91.23
1st
Cleaner Conc 3.69 84.83 94.95
Rougher Conc 5.27 60.33 96.54
• Concentrate grade
increased further to
97.41 % FC after 5
stages of cleaning
flotation
• Only slight grade
increases after, with
significant decrease
in recovery
• Ore described as
well-liberated and
easy to process
• Over 22 % of the
concentrate was
+180 µm coarse and
jumbo flake

Next Steps
• Define budget for 2022
– Exploration (Drilling & Sampling)
– Process & Value Add Testing Program
– Studies (Technical Report with NI43-101 Maiden Resource Definition)
– Permitting & Licensing
– Land & Mineral Rights
• Meet with current landowners
• Meet with Municipal and State of AL officials
• Define 2022-2024 work plan

Enterprise Value as % of NPV
• Currently Undervalued When Compared to Peer Group
STS Value Proposition
Enterprise Value / T of Cg

Capital Intensity US$/T of Capacity
• Low CAPEX and First Quartile OPEX in a District with 80+ Years of Continuous
Operations
OPEX US$/T

VRC
SRG
LLG
GPH
LML
ZEN
FMS
NGC
TON
NOU
RNU
STS
BEM
GPX
NEXT
EGR
BKT
WWR
MNS
-
50
100
150
200
250
300
350
400
450
0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0%
CAPEX
-
US$M
IRR - ATAX
Net Present Value
per Share
Outstanding: C$2.52
Fully Diluted: C$2.13
CAPEX vs IRR (ATAX)
• Low CAPEX and High Return on Investments

STS Ph 1&2
SJL
EGA LION
GEM
STS Ph 1
BSM
LMR CVE HXG
BEM
NG
VRC
RNU
WKT
CY SRG
FMS
GRAT BAT
GPH
BKT
SVM
WWR
MNS
EGR
TLG
NOU
NEXT
1
10
100
1000
0 1 2 3 4 5
Market
Cap
(Log
$M
Xchange
Currency)
Study Phase
Market Cap < C$20M C$20M < Market Cap < C$50M C$50M < Market Cap < C$100M Market Cap > C$100M
TR PEA PFS FS Licensed &
Detailed Eng
Study Phase Vs. Market Cap
• Compelling Value Proposition with Construction-Ready Project

Santa Cruz Graphite Mine
• Delivering Fundamental Value in the Graphite Sector with First New
Production in the Americas in over a Decade
STS Catalysts
✓100% Funding Phase 1 CAPEX
✓Partial Funding Phase 2 CAPEX
• Phase 1 Start of Construction
• Phase 1 Commissioning & Start of
Commercial Production
• Exploration and Resource/Reserves
Expansion
• Value-add product optimizations
• Value Add Process Trade off study
with conceptual level CAPEX/OPEX
• Environmental Permitting and
Mining License for Phase 2 (25,000
tpy concentrate) and Phase 3
(50,000 tpy concentrate)
• Commercial Agreements
Alabama Graphite Project
• Exploration & Drilling Program
• Maiden Resource Definition
• Preliminary Environmental
Characterization
• Metallurgical testing program to
create about approximately 15kg of
concentrate and initial value -add
testing program.

Why South Star?
✓ Mining-friendly
jurisdiction
✓ Great infrastructure
✓ Great logistics
✓ Prolific graphite-
producing region
✓ Experienced workforce
✓ Large internal market for
graphite in Brazil
✓ PFS NI 43-101 & updated
Resource
✓ Pilot-plant testing
completed
✓ High proportion of large
flakes
✓ 1st Quartile OPEX
✓ Low CAPEX
✓ Robust economics
✓ Large geological upside
✓ Management &
Directors hold ~25%
✓ Experienced mine
builders, operators and
financiers
✓ Decades of experience
in Brazil
✓ ESG is in our DNA
✓ Expanding demand in
Brazil
✓ Growing lithium-ion
battery market
✓ New markets developing
✓ First production by
the end of 2022
Santa Cruz
Project
Time
Brazil
Location
Team
Near-term graphite producer with responsible and sustainable production, committed to tangible,
long-term benefits for employees, communities, and stakeholders.

For more information,
please contact:
Richard Pearce
CEO/President
CHF Capital Markets (Canada IR)
Cathy Hume, CEO
Phone: 416 868 1079 x 251
Email: cathy@chfir.com
RBMG – RB Milestone Group LLC (IR US)
Trevor Brucato, Managing Director
Email: southstar@rbmilestone.com
Mr. Dave McMillan, Chairman
Email: davemc@telus.net
Email: info@southstarbatterymetals.com
Web: www.southstarbatterymetals.com
Twitter: @southstarbm
Facebook: @southstarbatterymetals
LinkedIn: @southstarbatterymetals
Suite 1200 - 750 West Pender Street
Vancouver, British Columbia
Canada, V6C 2T8
R. Barão do Triunfo, 612 – Cj 2210
Brooklin Paulista – São Paulo SP
Brasil, 04602-002

APPENDIX 1 - PHASE 1 PROJECT DETAILS
(5,000 TPY PILOT PLANT)
20-Year Mine Life with Terminal Value

Path to Production – Macro Schedule
2022 Key Milestones
✓ Complete Debt/Equity Finance for
Phase 1
▪ Begin Construction within 45-60
days of financing
▪ 10-12 months construction
schedule
▪ Secure Offtake/Supply Agreement
Santa Cruz Graphite Q1-2021 Q2-2021 Q3-2021 Q4-2021 Q1-2022 Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Q2-2023 Q2-2023
Environmental License
Mining License GU (ANM)
Project Financing
Detailed Engineering
Community interface/Prep
Go/No Go & Start of Project
Mobilization & Preconstruction
Construction
Commissioning
Commercial Production
2020
Feb 19, 2020
Dec 31, 2020
Feb 28, 2022
July 2021
May 2022
Dec 31, 2021
Feb 2023
May 2023

• Environmental Permit Approved for 4 Years
PHASE 1 – LICENSING & PERMITTING
• Mining License Approved for 3 Years by ANM on Dec 31, 2020
• Phase 1 Operations are fully licensed
• Permits and licenses can be renewed

37
PHASE 1 – ROBUST FINANCIAL METRICS & POTENTIAL RETURNS
• 12-month Construction Schedule
• Currently Trading at 4% of Phase 1 NPV or 2% of Phase 1+2 NPV
• Target Valuation in 24-36 Months
• C$50M = US$36M
• Conservative Approach to Valuation
• Comparables (6-8x EBITDA)
• 75% Phase 1 NPV or 44% of Phase 1 + 2 NPV
NPV5% US$ 30,9M
NPV5% + Terminal Value US$ 51,8M
IRR 32% p.a.
Cash Flow (LOM) US$62M
Payback Period (From Construction Kickoff) 3.4 years
Mining Method Open Pit
Process/Metallurgy Milling & Flotation
Life of Mine (LOM) 20 years
Annual Production (years 1): 3,000 t p.a.
Annual Production (years 2): 5,000 t p.a.
Annual Production (year 3-20): 6,000 t p.a
Avg. Operating Costs(LOM): US$ 546 per tonne of conc.
Avg. Weighted Price: US$ 1287/t Source: Benchmark Mineral Intelligence
• Graphite amounts to over 95% of anode
material for commercial battery
technologies
• No substitutes on the horizon
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South Star Battery Metals Corporate Presentation - April 2022

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South Star Battery Metals Corporate Presentation - April 2022