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Fuelling the global energy transition

Corporate Presentation – July 2016

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Cautionary Statement

The information contained in this presentation has been prepared by Dakota Minerals (DKO). This presentation is not an offer, invitation, solicitation or otherrecommendation with respect to the subscription for, purchase or sale of any securities in DKO. This presentation has been made available for information purposes onlyand does not constitute a prospectus, short form prospectus, profile statement or offer information statement. This presentation is not subject to the disclosurerequirements affecting disclosure documents under Chapter 6D of the Corporations Act.

This presentation may contain certain forward looking statements and projections regarding estimated, resources and reserves; planned production and operating costsprofiles; planned capital requirements; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussionpurposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors manyof which are beyond the control of Dakota Minerals Ltd. The forward looking statements/projections are inherently uncertain and may therefore differ materially fromresults ultimately achieved.

Dakota Minerals Ltd does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update orrevise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws. While theinformation contained in this presentation has been prepared in good faith, neither DKO or any of its directors, officers, agents, employees or advisors give anyrepresentation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in thispresentation. Accordingly, to the maximum extent permitted by law, none of DKO, its directors, employees or agents, advisers, nor any other person accepts anyliability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information orfor any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation.

Competent Person Statement

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Francis Wedin, who isa member of the Australasian Institute of Mining and Metallurgy. Dr Wedin is a full-time employee of Dakota and has sufficient experience which is relevant to the styleof mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a competent person as defined in the 2012 Edition of the“Australasian Code for reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves” (JORC Code). Dr Wedin consents to the inclusion inthis presentation of the matters based upon the information in the form and context in which it appears.

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Company Summary

Dakota Minerals is a strategic metals company, focused on discovering and developing quality lithiumdeposits

Currently developing the Lynas Find Lithium Project in WA, with known lithium-bearing (spodumene)pegmatites, along strike from Pilbara Minerals and Altura Mining Pilgangoora lithium deposits(>130Mt combined at >1.0%Li) – targeting maiden resource by Q3 2016

Initial drilling widths/grades exceptional, including 35m @ 2.14 % Li2O, with a weighted average of1.6% Li2O. Metallurgical test-work on spodumene zone under way

Recent acquisition of highly prospective lithium tenement package in Portugal, including three large,kilometre-scale areas of spodumene/petalite-bearing pegmatite swarms with rock chips up to 2.8 %Li2O - drilling to commence mid-August

Aiming to be a strategic lithium carbonate/hydroxide supplier to Asia and Europe, focused on thelithium-ion battery market. Strong cash position to achieve strategic objectives

Experienced board and management, known for innovative thinking, with proven capital-raisingability and solid exploration/development track record

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Dakota Lithium Projects: Strategic Overview

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1. Lynas Find Lithium Project, Pilgangoora Region. Emerging as one of the largest hard rock lithium districts in the world.

2. Lusidakota Project, Northern Portugal: Barroso-Alvao, Serra da Arga, Barca da Alva sectors. Currently the only lithium producing region in Europe, highly prospective.

4. European lithium battery market: second largest in the world, highest per capita uptake and government support for electric vehicles

3. Asian lithium battery market: largest in the world. Chinese government targeting five million electric vehicles by 2020.

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Capitalisation Overview

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ASX-DKO

SharesShares on Issue 320.4MMilestone Vendor Shares 1* 30MMilestone Vendor Shares 2* 30M

Directors & Management - Performance Rights:Tranche 1** 11.75MTranche 2** 11.75M

OptionsUnquoted Options exercisable at $0.016expire 31 December 2018 (ASX: DKOAA) 2.9MUnquoted Options exercisable between $0.035, $0.06 & $0.09 expire 31 December 2017 28.3MTotal Options 31.2M

Market Cap (undiluted) @ $0.08 $25.6M

Cash $14.1M

EV $11.5M

**Directors and Management Perfornance Rights. Definition of resource over DKO projects: Tranche 1 – 5mt resource @ 1.2% Li2O Tranche 2 – 15mt resource @ 1.2% Li2O

*Milestone Vendor Shares. Definition of resource over purchased Lynas Find tenements: 1 – 5mt resource @ 1.2% Li2O2 – 15mt resource @ 1.2% Li2O

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John FitzgeraldChairman

Mr Fitzgerald is an experienced Company Director and resource financier. He has worked with the resources sectorfor 30 years providing corporate advisory, project finance and commodity risk management services to a largenumber of companies in that sector. Mr Fitzgerald is a Non-Executive Director of Northern Star Resources Ltd andDanakali Resources Ltd. He has previously held positions as Chairman of Integra Mining Ltd and AthertonResources as well as senior executive roles with a number of Investment Banks with a focus on the provision ofservices to the mining sector. Mr Fitzgerald is a Chartered Accountant, a Fellow of FINSIA and a graduate memberof the Australian Institute of Company Directors.

David J FrancesMD-CEO

International mining executive of 25 years with a track record of developing assets in Africa (Democratic Republic ofCongo) with Mawson West (TSX: MWE) from 2006- 2012. Mr Frances took MWE private in 2009 when it was a $5MASX listed company with exploration and development projects in the DRC. After successfully competing atransaction with Anvil Mining and subsequently recommissioning and restarting the Dikulushi copper-silver mine MrFrances then completed the largest base metals capital raise and IPO in the world for 2010 when MWE was listed onthe TSX with a market capitalisation of $250M. David has also overseen other successful developments and hisexperience in successfully exploring, funding, and developing projects, his proven corporate strategic skills, and hisknowledge of equity capital and debt markets will complement the highly experienced and successful managementteam of Dakota.

Board & Management Team

Dr. Francis WedinTechnical Director

Francis Wedin is an experienced mining industry professional, with a diverse expatriate working backgroundspanning three continents and multiple commodities, producing a proven track record of exploration management,discovery and resource development success in the industry. Francis has a PhD in mineral exploration parametersfocused on the Tethyan Metallogenic Belt, is a Fellow of the Geological Society, London, and a member of theAustralasian Institute of Mining and Metallurgy. He is bilingual in English and Turkish, with proficiencies in otherlanguages, and is currently studying an MBA with a focus on renewable energy technologies.

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Lynas Find Project: Why Pilgangoora?

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Pilgangoora Region – Pilbara WA

Western Australia dominates global lithiumproduction from the Greenbushes mine

Pilgangoora region in Pilbara highlyprospective for new deposits –discoveries byAltura in 2012 and Pilbara Minerals in 2014

Pilgangoora pegmatite swarm now thesecond-largest spodumene-hosted hard rocklithium resource in the world

Dakota’s Lynas Find Lithium Project (part ofthe Pilgangoora pegmatite swarm) low riskexploration environment - good probabilityand clear precedent of discovery, well-testedgeological model, significant ground holding(268km2)

Excellent infrastructure, only 100km fromPort Hedland, with established rail and roadconnectivity 8

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Lynas Find Lithium ProjectArea

Port Hedland

Great Northern Highway Rail Lines

Wodgina Minesite

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Pilgangoora Pegmatite Swarm

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Pilgangoora comprises a number of lithium-bearingpegmatites which outcrop over about a 10km strikelength; it now represents world’s second largestknown spodumene resource

The main interpreted lithium-bearing pegmatiteswarm is held by three companies – Pilbara, Altura,and Dakota. Only the Dakota sector does notcurrently have a resource defined. From south tonorth:

Altura - JORC Mineral Resource estimate** of35.7 Mt @ 1.05% Li2O

Pilbara - JORC Mineral Resource estimate* of128.6 Mt @ 1.22% Li2O and 138ppm Ta2O5

Dakota – weighted average of 1.6% Li2Oresource estimation to be completed by end Q32016. Metallurgical test-work underway

*Pilbara Minerals ASX announcement, 11th July 2016**Altura Mining ASX announcement, 11th February 2016

Area believed to contain

concentrated, lithium-bearing pegmatites in Pilgangoora

PLS – 128.6Mt @ 1.22% Li2O

AJM – 35.7Mt @ 1.05% Li2O

DKO – 1.6% Li2O weighted average

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Lynas Find Project – Central Area

Drilling has yielded outstanding results including35m @ 2.1%, 35m @ 1.75% and 40m @ 1.52%Li2O, with an overall weighted average grade of1.6% Li2O*

Shallow-dipping pegmatite with thick high-gradeintersections from surface, open at depth perfectstarter-pit

Drilling results confirm the continuation of thePilgangoora system into Lynas Find

Maiden resource to be completed by end Q32016 – metallurgical test-work underway

10*DKO announcement 15/07/2016

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Pilbara Minerals Lease

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Lynas Find – Greater Project Area

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Ultra-detailed airborne geophysics completed (magnetics andradiometrics)

Numerous potential pegmatite targets identified - some alreadyconfirmed to contain elevated lithium levels

Aim to ground-truth all targets in coming months.

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Lusidakota Project – Why Portugal?

Portugal is highly prospective for spodumene-hosted lithium deposits. It is currently the leading lithium producer in Europe (mostly small-scale mining)

Countries in Europe are leading the world in uptake of electric vehicles (EVs) using lithium-ion batteries, with EVs already totalling 22% of all new vehicle sales in Norway

Lithium-ion batteries are already being produced in Europe to meet this increasing demand, and production capacity is growing dramatically to keep up, with Daimler-Mercedes recently expanding its factory in Germany, and Volkswagen to soon follow suit with a new 10 billion Euro factory

Battery producers will need more supply from secure, ethical jurisdictions. Sourcing lithium from Europe would also reduce the carbon footprint of the car production supply chain. Dakota is well placed to supply this expected surge in demand, pending successful development of its Lusidakota projects

Portugal has public policies deemed to be highly supportive of mining: it ranked in theglobal Top 10of all countries in the Fraser Institute 2015 Survey of Mining Companies for Policy Perception Index, an assessment of the attractiveness of mining policies

DKO presentation, 18/02/2016USGS Mineral Commodity Summaries, 2016http://media.daimler.com/deeplink?cci=2734603http://www.telegraph.co.uk/business/2016/05/27/vw-to-invest-8bn-in-battery-factory-as-it-tries-to-reinvent-itse/Fraser Institute Survey of Mining Companies 2015USGS, 2015

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Lusidakota Project Overview

Highly prospective tenement packagecovering three key lithium pegmatite fieldsin Northern Portugal with known lithium-bearing (spodumene) pegmatites:

Barroso – Alvão Pegmatite Field

Serra de Arga Pegmatite Field

Barca de Alva Pegmatite Field

Tenement package consists of eightexploration licences (one granted and sevenunder application)

Historical small scale mining withintenement packageF

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Barroso – Alvão Pegmatite Field

The Barroso-Alvão area is known to contain aplite-pegmatiteveins mineralised with spodumene. Pegmatites occur inswarms, varying in thickness up to 40m true width, andmapped up to 1 km in strike length

Historical bulk sampling, drilling and trench samplingundertaken by the Portuguese Geological Survey in the 1990’s,yielded highly anomalous lithium grades in the Barroso-Alvãoregion, up to 2.76 Li2O*

Lusidakota’s position includes the granted, Sepeda tenement(MNPP04612), which contains historical pegmatite workings,and the Tamega/Fafia applications (MNPPP0395/0407)**

Field work already under way at Sepeda to define drill targets.

*Due to the uncertainty related to the historical nature of the sampling, Dakota does notwarrant that these results are accurate or situated within its tenement holding. Dakotabelieves that this does however point to the prospectivity of the Barroso-Alvão region forlithium.**Tenement application MNPPP0395 is awaiting a decision on a proposedhydroelectric dam development. This tenement and MNPPP0407 also have someoverlapping claims, and the areas are expected to go to public bidding.

FafiaMNPPP0407

Tamega

Sepeda

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Barroso – Alvão - Sepeda

“Romano” Pegmatite up to 1.9% Li2O

“Block-C” UG workings up to 2.8% Li2O

Workings too unstable to sample – future drilling target

Sampled Area

Sepeda Tenements

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Barroso – Alvão, Sepeda – Field Work

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Auger drilling historic tailings dams, sampling of oldmine workings, geological mapping, drill targetdefinition all under way. First results show rock-chipsup to 2.8% Li2O

Mapping and sampling of mine workings andoutcropping pegmatites illustrated below and right –large exposed spodumene/petalite pegmatites

Drilling expected to commence mid-August

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Serra de Arga Pegmatite Field

The Serra de Arga pegmatite field consists of swarms ofaplite-pegmatite dykes and sills emplaced inmetasedimentary and metavolcanosedimentary-exhalativeSilurian series (Minho Central and Domo de Covas Units)

Lithium mineral occurrences recorded include petalite,spodumene, amblygonite, elbaite and lepidolite

Limited work has been undertaken on the large field ofaplite-pegmatite bodies at Serra de Arga

No known resources have been evaluated – historical datarefers to surface values of 4690 – 12400 ppm Li (1.00 – 2.67Li2O)*

First pass exploration works to commence in Q3 2016

*Due to the uncertainty related to the historical nature of the sampling, Dakota does not warrant that these results are accurate or situated within its tenement holding. Dakota believes that this does however point to the prospectivity of the Serra de Argaregion for lithium mineralisation.

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Barca de Alva Pegmatite Field

Barca de Alva, the extension of theFregeneda pegmatite field in Spain,consists of several types of aplite-pegmatite dykes and sills containingpetalite, spodumene, amblygonite, elbaiteand lepidolite

No known resources exist; historical datafrom the region refers to surface values ofup to 1574 ppm Li (0.34% Li2O)*

Lusidakota has two key exploration licenceapplications, Picoes and Boavista, coveringthe main pegmatite swarm area**

First pass exploration works expected tocommence in Q4 2016

MNPPP0394

MNPPP0393

*Due to the uncertainty related to the historical nature of the sampling, Dakota does not warrant that these results are accurate or situated within its tenement holding. Dakota believes that this does however point to the prospectivity of the Barca de Alva region for lithium. **Boavista application may be affected by National Park boundaries.

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Exploration work schedule

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Continue to evaluate and build project pipeline and tenementportfolio via strategic acquisitions in prospective jurisdictions:Q3/Q4 2016

Lynas Find

Lynas Find Central pegmatite zone; metallurgical test-work ofspodumene zone; maiden resource definition: Q3 2016

Field verification of additional pegmatite targets, produced fromdetailed geophysics conducted earlier: Q3/Q4 2016

Lusidakota

Geological mapping and sampling, drill target definition anddrilling – August 2016

Pursue successful grant of all tenement applications: Q3/Q42016

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Summary: The Dakota Opportunity

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Enterprise ValuationLow High

Peer Comparison

(Source: Bloomberg, ASX, and Company estimates as at 1st of July 2016)

Resource calculation underway for LynasCentral – high grade lithium mineralisationalready confirmed in drilling

Leveraged to what has become the secondlargest known hard-rock lithium resource inthe world

Advancing other strategic lithiumacquisitions in prospective jurisdictions –strategically placed to take advantage of thegrowing surge in European lithium demandvia Lusidakota Portugal project

Strong cash position to advance projectsquickly

A consistently delivering management teamcapable of growing Dakota into a highquality, diversified lithium play.

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APPENDICES

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Appendix 1: Lusidakota Tenement Schedule

Tenement ID Prospect Project Licence Type Status Area (Km2)

MNPP04612 Barroso Alvão Sepeda Prospecting & Research Granted 37.1

MNPPP0395 Barroso Alvão Tamega Prospecting & Research Under Application 283.3

MNPPP0407 Barroso Alvão Fafia Prospecting & Research Under Application 27.3

MNPPP0274 Serra de Arga Arga West Prospecting & Research Under Application 249.8

MNPPP0275 Serra de Arga Arga East Prospecting & Research Under Application 93.2

MNPPP0396 Serra de Arga Arga Central Prospecting & Research Under Application 42.7

MNPPP0393 Barca de Alva Boavista Prospecting & Research Under Application 14.3

MNPPP0394 Barca de Alva Picões Prospecting & Research Under Application 5.5

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Appendix 2: Peer-group Analysis*

Company Name Symbol Share Price Market Cap (M) Primary Commodity

Pilbara Minerals ASX: PLS A$0.62 A$704.10 Li, Ta

Bacanora Minerals Ltd TSX: BCN C$1.61 C$173.68 Li, B

Galaxy Resources Ltd. ASX: GXY A$0.50 A$647.10 Li

Neometals Ltd ASX: NMT A$0.46 A$254.39 Li, Ta

Nemaska Lithium Inc. TSX: NMX C$1.33 C$333.94 Li

Altura Mining Ltd ASX: AJM A$0.21 A$247.00 Li, Coal

Metalicity Ltd ASX: MCT A$0.07 A$30.60 Li, Zn

Lithium Australia NL ASX: LIT A$0.27 A$98.50 Li

Kairos Minerals Ltd ASX: MPJ A$0.07 A$13.51 Li, Au

Dakota Minerals ASX: DKO A$0.10 A$32.04 Li

*Updated for 01/07/2016

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Appendix 3: Why Lithium?F

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The Ideal Battery - Why Lithium?

High charge density

Light

Recharges rapidly

Long lifespan

Discharge rate

Ability to hold charge for long period of time

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The Lithium Market in 2016

Demand 2015 : 184ktpa* Lithium Carbonate Equivalent (LCE)

Lithium Market ‘Value’: currently >US$2 billion

Market expected to grow to 535ktpa by 2025*

Time to construct and high capex of future brine production are creating opportunities for hard-rock projects

Australia, as the largest producer, is well-placed to play a significant role in future downstream/value-add production

*Deutsche Bank, May 2016

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Lithium Market Growth Areas

Key Points

Strong existing glass/ceramics market

Battery grade lithium is tipped to be the main growth area in the lithium sector for many years to come

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Growth in Lithium Use - 1

Lithium is used in a variety of applications, from medicine to metal alloys, greases and lubricants

Currently, global lithium demand is 184,000mt LCE per annum

Glass and ceramics industry - 30-35% of market share. Most lithium uses experiencing 2-4% Compound Annual Growth Rate (CAGR)

Largest growth market: lithium-ion batteries - currently around 35% of world lithium use, from next to nothing in the 1990s, and has experienced CAGR of around 10% to date

Uptake of laptops, tablets and smartphones have all contributed to this rise, however electric vehicles (EVs) are already having a significant effect on lithium demand

A cell phone will require on average 5-7g of LCE for its battery. The Tesla Model S, with its 70kWh lithium-ion battery, uses 63kg of LCE, or 10,000 times that of a cell phone

GlobalBattery Production

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Growth in Lithium Use - 2

Currently, EVs account for 27,000t LCE (15%) of the overall lithium market. However, forecasts predict an 11x growth of this market to 2025, adding 300,000mt LCE of lithium demand

This on its own would, in effect, triple the current lithium market

74 million vehicles are expected to be sold worldwide in 2016. In 2015, the total number of plug-in EVs sold to date surpassed one million, of which over 500,000 were sold that year

More rapid growth expected in 2016-17 with greater availability of cheap, long range models. Just a 1% penetration of the global new car market, would add an additional 50-70,000t LCE demand

Norway is leading the way, with government incentives the large driver behind a plug-in EV uptake of approximately 25% of all new vehicles. Total penetration of the global car market would require 5-7mt LCE of supply.

Global Electric Vehicle Sales

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Lithium Demand – the “Perfect Storm”?

Even given the current spectacular growth rates of lithium-ion battery usage, these are expected to rise further, caused by a confluence of the following factors:

A trend in many countries towards government incentivising purchase of EVs, and penalising fossil fuel powered vehicles. Lawmakers in the Netherlands and Norway recently proposed separate motions that would ban all sales of petrol and diesel cars by 2025

With Tesla leading the way, we are reaching a tipping point in 2016-17 where affordable (<US$35,000) EVs, with a range of >300km, are becoming available to the mass market. The technology is publicly available, so we are likely to see (and are already seeing) adoption by all major car companies, from GM to BMW

Mass uptake of renewable energy is increasing at a rapid rate, with the price of solar panels reduced by 80% since 2010, making the economic case for EVs and stationary battery storage more compelling

Climate change effects mean that a switch away from fossil fuels is becoming increasingly urgent. The Paris COP21 December 2015 agreement has created the legal framework to facilitate the transition. This has created a strong incentive to switch to EVs, and home/grid-produced renewable energy linked to stationary battery storage

Pollution from coal plants and fossil fuel-powered vehicles is killing millions in cities globally every year. It is already evident that certain governments will take dramatic action to tackle pollution – e.g. China’s target of five million EVs on the road by 2020, and mass-conversion of buses to lithium-ion battery power. This will have a profound impact on lithium demand.

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Where Does Lithium Come From?

Lithium Salts (Brines)Salt-lake Brines (Atacama Desert)

Geothermal/oilfield brines

Natural Occurrence

Li mineral concentrate

Li-hydroxide

Li-carbonate

Li-bromide

Li-chloride

Li-metal

Butyllithium

Glass

LubricantsBatteries

BatteriesCeramicsPolymers

Al-productionAl -alloys

Air conditioning

BatteriesPharmaceuticals

ChemicalsAl -alloys

PolymersPharmaceuticals

Chemical Products Industrial use

Lithium Minerals (Hard rock)Spodumene (Greenbushes/Pilgangoora,

Australia)Lepidolite & Petalite (Bikita, Zimbabwe)

Hectorite (Kings Valley, Nevada)Jadarite (Jadar, Serbia)

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Lithium Supply - Summary

Lithium sources currently very constrained by company and country

Major brine resources carry significant geopolitical risk

Imperative to define new sources that present alternatives with lower development risk

Concerns are being raised suggesting that current planned production expansions, and new resources going into production, are inadequate to support the forecasted large-scale electrification of vehicles

Greater volume and diversification of supply is needed to enable the global “energiewiende”, or energy transition

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